Smartworks, a provider of co-working space solutions, has secured Rs 168 crore ($20.24 million) in funding from a consortium of investors, which includes Keppel, Ananta Capital Ventures Fund I, Plutus Capital, family trusts, and high-net-worth individuals (HNIs).
The raised funds will be utilized to facilitate the growth and expansion of the business, as well as to cover general corporate expenses.
Smartworks has secured more than $50 million in funding, which includes a $25 million investment from Keppel Land, a Singapore-based company, in 2019.
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Smartworks offers managed office spaces through a process of leasing premises from real estate developers and then subleasing them to enterprises or companies. The organization has a widespread presence in Delhi-NCR, Kolkata, Bengaluru, Chennai, Pune, Hyderabad, and other locations.
Smartworks operates in 13 cities, including Bengaluru, Kolkata, Delhi NCR, Mumbai, and Pune. They have a total of 41 centers covering a combined area of 8 million square feet.
Smartworks experienced a significant increase in revenue from operations, with a spike of 97.5% to Rs 711 crore in FY23 compared to Rs 360 crore in FY22.
About Smartworks
Founded in 2016 by Neetish Sarda, Smartworks is India’s largest managed workspace platform with a growing footprint of ~8 million sq. ft. across 39+ centers in 13 cities.
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