Smartworks Coworking raises $25 mn from Keppel Land Mumbai, Oct 31 (PTI) Shared office space providerSmartworks Coworking on Thursday said global multi-facetedproperty company Keppel Land has invested USD 25 million for aminority stake.
While the investment marks a foray for Singapore-basedKeppel Land in India, Smartworks plans to utilise the fundsfor expanding its presence in the country, a company statementsaid.
‘This investment allows Keppel Land to enter one ofthe worlds fastest-growing flexible office markets, openingdoors for further growth through this collaboration,’ KeppelLand CEO Tan Swee Yiow said.
He further said there are many opportunities forcross-learning and collaboration between Smartworks and KeppelLand’s smart serviced co-office platform, KLOUD, whichcurrently has a presence in Singapore, Vietnam and Myanmar.
Founded by Neetish Sarda and co-founded by HarshBinani in April 2016, Smartworks has a presence in nine majorIndian cities including, Delhi, Noida, Gurugram, Kolkata,Bengaluru, Mumbai, Hyderabad, Chennai and Pune with 23operational centres offering a total of about 43,000workstations spread over 2.3 million sqft.
‘With this strategic investment by Keppel Land, wewill be able to scale up even more rapidly across thecountry’s tier I and II cities and further invest in buildingup our next generation product, improving client experiences,as well as boosting our talent and technology,’ Sarda added.