Gurugram (Haryana) [India], Smartworks has successfully raised Rs 168 crore (US$20.24 million) in its latest funding round this year.
According to a press release, the investment comes from a consortium of investors that includes Keppel Ltd., Ananta Capital Ventures Fund I, Plutus Capital, family trusts and high net worth individuals.
The promoters of Smartworks retain a majority stake in the company after this funding injection.
Keppel Ltd., Mahima Stocks Private Limited and Deutsche Bank A.G. London Branch are among the prominent investors supporting Smartworks, underlining their confidence in the company's growth and leadership in the managed office and campus space sector.
Commenting on the fundraising, Neetish Sarda, founder of Smartworks, expressed gratitude to investors for their continued support and confidence in the company's capabilities and managed workspace solutions.
He said: "We thank our investors for their continued confidence in our capabilities and expertise of the office and managed campus platform. The capital from the latest fundraising will be used for the growth and expansion of the company's business and to meet their overall corporate spending needs. We remain committed to our growth.
Highlighting the strategic partnership, Louis Lim, CEO of Real Estate at Keppel Ltd., noted that since Keppel's initial investment in 2019, Smartworks has become India's largest managed workspace platform.
Lim said: "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 the Indian commercial office market, as we hope to expand Keppel's office portfolio in India and support the country's rapid urbanization through our innovative urban space solutions."
In FY2024, Smartworks expanded its presence with new centers including 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 portfolio has prominent campuses such as Vaishnavi Tech Park in Bengaluru, M Agile, 43 EQ and AP81 in Pune, catering to large organizations across sectors.
Since 2019, Singapore-based Keppel Ltd. has been a strong investor in Smartworks, with cumulative investments totaling $29 million through 2024.
As of March 31, 2024, Smartworks operates in 13 cities in India and manages a portfolio comprising 41 centers spanning approximately 8 million square feet. The company continues to serve a wide range of large independent businesses in the sector, providing customized workspace solutions to meet evolving business needs.
According to a press release, the investment comes from a consortium of investors that includes Keppel Ltd., Ananta Capital Ventures Fund I, Plutus Capital, family trusts and high net worth individuals.
The promoters of Smartworks retain a majority stake in the company after this funding injection.
Keppel Ltd., Mahima Stocks Private Limited and Deutsche Bank A.G. London Branch are among the prominent investors supporting Smartworks, underlining their confidence in the company's growth and leadership in the managed office and campus space sector.
Commenting on the fundraising, Neetish Sarda, founder of Smartworks, expressed gratitude to investors for their continued support and confidence in the company's capabilities and managed workspace solutions.
He said: "We thank our investors for their continued confidence in our capabilities and expertise of the office and managed campus platform. The capital from the latest fundraising will be used for the growth and expansion of the company's business and to meet their overall corporate spending needs. We remain committed to our growth.
Highlighting the strategic partnership, Louis Lim, CEO of Real Estate at Keppel Ltd., noted that since Keppel's initial investment in 2019, Smartworks has become India's largest managed workspace platform.
Lim said: "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 the Indian commercial office market, as we hope to expand Keppel's office portfolio in India and support the country's rapid urbanization through our innovative urban space solutions."
In FY2024, Smartworks expanded its presence with new centers including 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 portfolio has prominent campuses such as Vaishnavi Tech Park in Bengaluru, M Agile, 43 EQ and AP81 in Pune, catering to large organizations across sectors.
Since 2019, Singapore-based Keppel Ltd. has been a strong investor in Smartworks, with cumulative investments totaling $29 million through 2024.
As of March 31, 2024, Smartworks operates in 13 cities in India and manages a portfolio comprising 41 centers spanning approximately 8 million square feet. The company continues to serve a wide range of large independent businesses in the sector, providing customized workspace solutions to meet evolving business needs.
