Smartworks Secures INR 168 Cr Funding to Fuel Growth With a total of USD 29 million invested in Smartworks so far, Singapore-based Keppel Ltd has been a consistent investor in the firm since 2019.
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Co-working platform Smartworks announced that it has raised INR 168 crore (USD 20.24 million) from investors including Keppel Ltd, Ananta Capital Ventures Fund I, Plutus Capital, family trusts, and certain high-net-worth individuals in private funding rounds.
Singapore-based Keppel Ltd has been a longtime supporter of Smartworks since 2019, having contributed a total of USD 29 million to the business.
Neetish Sarda, Founder of Smartworks, said, "We thank our investors for their continued confidence in our capabilities, office experience, and managed campus platform. Capital from the latest fundraising will be used for the growth and expansion of the business of the company and to meet its general corporate expenses. We remain committed to our growth."
Started in 2016 by Neetish Sarda and Harsh Binani, Smartworks is a shared workspace company that offers office spaces that can be quickly set up and tailored to businesses' requirements.
The Gurugram-based startup operates in 13 cities, including Bengaluru, Kolkata, Delhi NCR, Mumbai, and Pune, with 41 centres spanning across 8 million square feet, serving large organisations.
In fiscal 2024, Smartworks added new centres including Golf View Corporate Towers in Gurgaon, Logix Cyber Park in Noida, Amar Tech Center and 43EQ in Pune, and Olympia Pinnacle in Chennai. Major campuses in its portfolio include Vaishnavi Tech Park in Bengaluru, M Agile, 43EQ, and AP81 in Pune.
Louis Lim, CEO, Real Estate of Keppel Ltd, said, "Since Keppel's initial investment in 2019, Smartworks has grown to become India's leading managed workspace platform. Keppel remains committed to continuing to support Smartworks' growth.
"This investment maintains our long-term involvement in India's commercial office market, as we look to expand Keppel's office portfolio in India and support the country's rapid urbanisation through our innovative urban space solutions," he added.
