Co-working firm Smartworks on Thursday announced raising of USD 25 million (about Rs 175 crore) from Singapore’s Keppel Land Ltd to fund its expansion plan of more than doubling the seating capacity to one lakh.
Founded in April 2016, Smartworks Coworking Spaces Pvt Ltd currently has 23 co-working centres, comprising about 43,000 seats spread over 2.3 million sq ft area, across nine cities.
“We have raised USD 25 million from Keppel Land. This is our first round of external funding. We wanted to have a strategic partner or growth. The fund will be utilised for expansion,” Smartworks founder Neetish Sarda told reporters here.