Gurgaon, June 2024.
Smart works, India’s leading managed workspace platform today announced that it has raised INR 168 crore (US $20.24 Mn) this year from investors including Keppel Ltd., Ananta Capital Ventures Fund I, Plutus Capital, family trusts, and certain high-net-worth individuals in private funding rounds.
The promoters of Smartworks continue holding majority shareholding in the company. The company counts Keppel Ltd., Mahima Stocks Private Limited and Deutsche Bank A.G. London Branch among others, as its prominent/notable investors.
Commenting on the fundraise Mr. Neetish Sarda, Founder Smartworks, said, “We thank our investors for their continued confidence in our capabilities and the office experience and managed campus platform. Capital from the latest fund raising 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.”
Mr Louis Lim, CEO, Real Estate of Keppel Ltd. said, “Since Keppel’s initial investment in 2019, Smartworks has grown to become India’s leading managed workspace platform. Keppel remains committed to continue supporting 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.”
In Fiscal 2024, the company added new centres 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. Some of the large campuses in the company portfolio include Vaishnavi Tech Park in Bengaluru, M Agile, 43 EQ and AP81in Pune.
Since 2019, Singapore-based Keppel Ltd. has been a prominent and longstanding investor in Smartworks having invested USD $29 Mn in the company to date.
As of March 31, 2024, Smartworks has a presence in 13 cities and portfolio comprising 41 centres spanning across 8 million sq. ft. The company caters to sector-agnostic large organizations.
