Managed workspace platform Smartworks has raised ₹168 crore this year from investors, including Keppel, Ananta Capital Ventures Fund I, Plutus Capital, family trusts, and certain high networth individuals in private funding rounds.
The promoters continue to hold majority shareholding in the company. Keppel., Mahima Stocks Pvt Ltd and Deutsche Bank A.G. London Branch are among its prominent investors.
Neetish Sarda, Founder, Smartworks, said, “Capital from the latest fund raising will be used for growth and expansion and to meet general corporate expenses. We remain committed to our growth.”
Louis Lim, CEO, Real Estate of Keppel said, “Since Keppel’s initial investment in 2019, Smartworks has grown to become India’s leading managed workspace platform. Keppel remains committed to 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 the country and support its rapid urbanisation through our innovative urban space solutions.” Keppel has invested $29 million in the company to date.
In FY24, Smartworks 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’s portfolio include Vaishnavi Tech Park in Bengaluru, M Agile, 43 EQ and AP81 in Pune.
As of March 31, 2024, Smartworks had a presence in 13 cities and its portfolio comprised 41 centres spanning across 8 million sq ft.