Smartworks plans to raise $70-90 MN

Apr 10, 2023

Smartworks plans to raise $70-90 MN

News Coverage

Smartworks, the managed office space provider, plans to raise $70-90 million in equity funds this fiscal year for future growth to tap the rising demand for flexible workspace. Currently, the company has a portfolio of 8-8.5 million square feet, of which 7 million square feet is operational, in 12 cities. It is targeting to reach a 12-13 million square feet portfolio by March 2024 and fully capitalized to achieve this growth.

Smartworks raised $25 million from Singapore's Keppel Land Ltd to fund its expansion plan.

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