Smartworks Secures INR 168 Crore in Funding from Key Investors Including Keppel Ltd

Co-working platform Smartworks has announced a significant fundraising achievement, securing INR 168 crore (USD 20.24 million) from a diverse group of investors. The funding round saw participation from notable investors such as Keppel Ltd, Ananta Capital Ventures Fund I, Plutus Capital, family trusts, and several high-net-worth individuals.

Singapore-based Keppel Ltd has been a steadfast supporter of Smartworks since 2019, contributing a cumulative total of USD 29 million to the company's growth. This latest round of investment underscores the continued confidence in Smartworks' capabilities and innovative office solutions.

Neetish Sarda, Founder of Smartworks, expressed gratitude to the investors, stating, "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 and to meet its general corporate expenses. We remain committed to our growth."

Established in 2016 by Neetish Sarda and Harsh Binani, Smartworks has revolutionized the shared workspace sector in India. The Gurugram-based startup offers customizable office spaces designed to meet the unique requirements of businesses. Currently, Smartworks operates in 13 cities, including Bengaluru, Kolkata, Delhi NCR, Mumbai, and Pune, with 41 centers spanning 8 million square feet. These centers cater to large organizations, providing them with agile and efficient workspace solutions.

In fiscal 2024, Smartworks expanded its footprint by adding new centers such as Golf View Corporate Towers in Gurgaon, Logix Cyber Park in Noida, Amar Tech Center and 43EQ in Pune, and Olympia Pinnacle in Chennai. The company's major campuses include Vaishnavi Tech Park in Bengaluru, M Agile, 43EQ, and AP81 in Pune.

Louis Lim, CEO of Real Estate at Keppel Ltd, commented on the investment, saying, "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 urbanization through our innovative urban space solutions."

Smartworks' growth trajectory and innovative approach to office spaces highlight its role in transforming the commercial office market in India. With the latest funding, the company is poised for further expansion and enhancement of its services, solidifying its position as a leader in the managed workspace industry.