Skootr to raise $10 million from DLF for expansion of co-working office business

Skootr to raise $10 million from DLF for expansion of co-working office business
08/08/2017 , by , in News/Views

Start-up firm Skootr plans to expand its co-working office business and for this it will raise $10 million this fiscal from realty major DLF. It has also leased about 50,000 sq ft area in Gurgaon from DLF.

Skootr started operating in 2016 and provides managed co-working office space as well as customized office space for big corporates. It has presence in Gurgaon, Noida, Jaipur and Mumbai with eight centers comprising 1 lakh sq ft of space.

Skootr co-founder and CEO Puneet Chandra told PTI, “We are opening new office centre of 50,000 sq ft in DLF Cyber City next month, taking our capacity to 1.5 lakh sq ft and number of clients to about 2,500.”

He expected that the revenue will increase to Rs 20 crore annually after the launch of this new centre and highlighted that the company is already making profit, although small. Skootr is providing work stations at an average price of Rs 11,000 per seat. The start-up will open three more office centers, having 1 lakh sq ft of area, this fiscal in Gurgaon, Delhi and either Bengaluru or Pune in South India.

“The co-working office segment is growing 50 per cent every year. So, now we are planning to raise USD 10 million to expand our presence and achieve faster growth,” Chandra said.

He said the fund would be utilized to add 50 centers with a capacity of one million sq ft. “Promoters have already infused one million dollar in the company in the last two years. Now we are talking to investors to raise USD 10 million,” Chandra said.

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