With a plan to scale up faster across Tier 1 and Tier 2 cities, Smartworks, a co-working space provider platform, has raised $25 million (approx INR 177 crore) in a fresh funding round from Keppel Land, reported Inc42.
According to Neetish Sarda, founder of Smartworks, the newly-infused capital will now enable company to scale up even more rapidly across Tier 1 and Tier 2 cities. It also plans to further invest in building up its next-generation product, improving client experiences, as well as boosting the talent and technology.
Tan Swee Yiow, CEO of Keppel Land, said, “Smartworks’ innovative business model, coupled with its strong knowledge of the Indian enterprise office segment and execution abilities, is highly scalable and relevant, particularly in India’s growing market for commercial office spaces. There are also many opportunities for cross-learning and collaboration between Smartworks and Keppel Land’s smart serviced co-office platform, KLOUD.”
The Noida-headquartered Smartworks was founded by Harsh Binani and Neetish Sarda in 2016. The platform offers state-of-the-art serviced workspace solutions for individuals and businesses that want the work environments without committing themselves to long-term leases or contracts.
As per its website, Smartworks aims to provide entrepreneurs with all the flexibility that they need to succeed in the competitive business environment of today. Moreover, being serviced and completely customizable, these workspaces help businesses minimize their overhead expenses.
The company Smartworks claims to have 23 operational centres in nine cities offering a total of about 43,000 workstations spread over 2.3 million sq ft.