Smartworks raises $25 million in Series-A funding
Singapore-based Keppel Land has invested US $25 million in Smartworks Coworking Space, a flexible space solutions provider for a minority stake.
The company will use the money to increase its desk counts across the cities where it already has presence and to enter new markets. It plans to take the total desk count to 65,000 by the end of this year from 25,000 now.
“This is series-A funding for the company and shows how global institution still believe in the growth of coworking space,” said Neetish Sarda founder of the company. “We plan to raise around $20 million addition through debt and internal accruals too,” he added.
The Delhi-based co-working spaces operator has signed 1 million sft lease agreements across Bengaluru, Hyderabad, Pune and Mumbai.