Smartworks, a prominent managed workspace platform, has successfully raised Rs 168 crore ($20.24 million) this year from a diverse group of investors, including Keppel Limited, Ananta Capital Ventures Fund I, Plutus Capital, Family Trusts, and several high-net-worth individuals. This funding round marks a significant milestone for Smartworks, reinforcing its commitment to growth and expansion within the dynamic coworking and flexible office space industry.

Expressing gratitude towards the investors, Neetish Sarda, Founder of Smartworks, stated, “We thank our investors for their continued confidence in our capabilities and the office experience and managed campus platform. Capital from the latest fundraising will be used for the growth and expansion of the business of the company and to meet its general corporate expenses. We remain committed to our growth.” This capital infusion is set to bolster Smartworks’ strategic initiatives and enhance its service offerings across its expanding network.

In fiscal 2024, Smartworks has made notable strides in expanding its footprint, adding new centres such as Golf View Corporate Towers in Gurugram, Logix Cyber Park in Noida, Amar Tech Center, and 43EQ in Pune, as well as Olympia Pinnacle in Chennai. These additions signify the company’s relentless pursuit of premium managed workspace solutions across major Indian cities. With these new centres, Smartworks now boasts a presence in 13 cities, with a portfolio encompassing 41 centres and an impressive 8 million square feet.

Since 2019, Singapore-based Keppel Ltd has been a cornerstone investor in Smartworks, contributing $29 million. Louis Lim, CEO of Real Estate at Keppel Ltd, highlighted Smartworks’ impressive growth trajectory, noting, “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 urbanisation through our innovative urban space solutions.”

Smartworks’ expansion is not just about physical space. The company is continuously innovating its service offerings to meet the evolving needs of its clients, providing a blend of traditional office amenities with the flexibility and convenience of modern coworking spaces. This innovative approach has solidified Smartworks’ position as a leader in the managed workspace industry, catering to a diverse clientele ranging from startups to large enterprises.

In conclusion, Smartworks’ recent fundraising achievement and strategic expansion plans underscore its commitment to leading the managed workspace industry in India. With robust investor support and a clear vision for growth, Smartworks is well-positioned to continue its upward trajectory, offering unparalleled workspace solutions in the ever-evolving commercial real estate landscape.