[Funding alert] ABL Workspaces secures angel funding from Great Point Capital LLC

Delhi-based coworking firm ABL Workspaces on Friday said it raised an undisclosed amount in angel funding from Great Point Capital LLC, Chicago.

The funds will be utilised to strengthen its presence in the capital region and will be operational with 15 new centres by June 2020. 

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Hosting the likes of Zomato and Livspace, this Delhi-based coworking space clocks Rs 18 Cr per annum

Talking on the capital infusion, Akshita Gupta, Co-founder and CMO, ABL Workspaces, said

"The funding has come on the accurate time, which will help us in going live with 15 number of centres by June 2020. We have witnessed an immense growth in our business and clientele,"

The company aims to become the giant player and has charted out plans to be live with 15,000 seats and 50 centres in Delhi-NCR by the end of FY21.

Speaking on the investment, Gabriel Mengin, President, Great Point Capital LLC said,

“Coworking sector has become one of the most promising segments of the startup ecosystem and has attracted attention of many leading investment firms across. There is a huge demand for quality workspaces at premium locations, which ABL Workspaces succeeds to offer with their best-in-class services at affordable pricing. We are glad to partner with the company and help them become one of the leading players in the region.”

Additionally, ABL Workspaces is planning to introduce facial recognition to access the space, setting the temperature, and changing lighting, in order to make the office environment more interactive and employee-friendly. 

(Edited by Saheli Sen Gupta)