IndiQube raises Rs 100 Cr equity from WestBridge Capital
Smart workspace solutions provider IndiQube, on Monday announced that it has raised Rs 100 crore of equity in a round led by WestBridge Capital. The round also saw participation by Ashish Gupta, co-founder of Helion Ventures, who serves on the advisory board of the company.
The funds from this round will be used to strengthen the company’s execution capabilities and the company’s aggressive expansion plans across Bengaluru, Pune, Hyderabad, Chennai, Mumbai, and NCR.
In Bengaluru, the startup hub, IndiQube has 25 office spaces strategically located at prime locations with over 1.4 million sq. ft. of workspace. It is focused on serving all the real-estate related needs of its clients (workspace planning & flexibility, managing cafeteria, conference rooms, internet lease-lines, power back-ups, security, etc) to create a hassle-free environment enabling them to focus on their core business.
Since its inception in 2015, IndiQube claims to have been home to top emerging startups, brands and offshore development centers (ODC) including companies like LEVIS, Red Bus, Bluestone, Scripbox, Fresh Menu, No Broker, Rubrik, Thoughtspot, Fungible, Lendingkart, Cleo, Eximius and others. The company continues to focus on elevating the customer experience for its 14000+ members to establish itself as a partner in growth for its clientele offering business scalability and agility.
Rishi Das, Co-founder and Chairman, IndiQube, said, “IndiQube embarked on this fabulous journey in 2015 with amazing like-minded people who believed in us and shared our vision of fulfilling the evolving workspace requirements for startups and SMEs across the country. We are now very excited to have WestBridge Crossover Fund, one of the leading PE investors in India, partner with us to help build out this vision for work spaces of the future.”
He added, “Our commitment towards creating office spaces of the future that are flexible and scalable, has also helped attract large companies to set up their offices at Indiqube. Today, our workspaces not only appeal to the new age workforce but also address business requirements of companies across segments more effectively. We believe our partnership with WestBridge and Ashish Gupta will help us accelerate our expansion plans in new markets and better address our existing and prospective customer requirements.”
Meghna Agarwal, Co-founder, IndiQube said, “We are excited to have WestBridge Capital join us on our growth journey. WestBridge brings with it a wealth of experience in many areas including strategy, operations, management recruiting etc. which will be instrumental in realising IndiQube’s ambition of being recognised as a leading workspace solution provider in India.”
Sandeep Singhal from WestBridge Capital said, “We are very pleased to partner with Rishi Das, Meghna Agarwal and the management team at IndiQube. Managed smart workspaces are likely to grow rapidly as the large commercial real-estate market in India becomes more service-oriented and we believe that IndiQube, with its strong leadership team and customer focus is likely to become a leader in the segment."
