Gurugram headquartered Smartworks Secures INR 168 Crore Funding for Expansion

New Delhi:

 Gurugram-based Flexible workspace operator Smartworks has successfully raised INR 168 crore (approximately $20.24 million) from a group of investors to support its ambitious expansion plans.

Investors Backing Smartworks

 The recent funding round saw participation from prominent investors including Keppel, Ananta Capital Ventures Fund I, Plutus Capital, and various family trusts.

Fueling Business Expansion

  Neetish Sarda, founder of Smartworks, conveyed that the capital from this latest fundraising will be utilized for the company's growth and expansion, as well as to cover general corporate expenses.

Maintaining Majority Ownership

 Despite the infusion of capital, the promoters of Smartworks continue to retain majority ownership of the company.

Expansion in FY24

In FY24, Smartworks has expanded its footprint by adding new centers, including:

• Golf View Corporate Towers in Gurugram.
• Logix Cyber Park in Noida.
• Amar Tech Centre and 43EQ in Pune.
• Olympia Pinnacle in Chennai.
• Impressive Portfolio

The company’s portfolio also features several large campuses, such as:

• Vaishnavi Tech Park in Bengaluru
• M Agile in Pune
• 43EQ in Pune
• AP81 in Pune
• Keppel’s Continued Support
• Louis Lim, CEO of Real Estate at Keppel, mentioned that since Keppel’s initial investment in 2019, Smartworks has grown to become India’s leading managed workspace platform.
• This new funding round is set to further cement Smartworks' position as a dominant player in the flexible workspace market, driving its growth and enabling it to offer enhanced services to its clients.