Coworking co Smartworks bags Rs 100 Cr from investors led by Ananta Capital
The funding round included participation from investors such as Lend Lease, Plutus Capital, Dhawan Family Private Trust, Kili Ventures LLP, and Anand Dalmia, among others.
Managed workspace provider Smartworks has raised approximately Rs 100 crore from a group of investors led by Ananta Capital.
The funding round included participation from investors including Lend Lease, Plutus Capital, Dhawan Family Private Trust, Kili Ventures LLP, Anand Dalmia, and Stargazer Fund-1, among others, according to the company’s MCA filings.
Smartworks’ board gave the green light to issue 3,716,551 equity shares, each with a face value of Rs 10, at a price of Rs 269 per share. This includes Rs 259 as a share premium. The total amount raised was Rs 99,97,52,219, and the shares are fully paid up, as per the filings.
According to , the Gurugram-based company’s latest funding round amounted to approximately $4 million from Singapore’s Keppel.
Back in 2019, the homegrown shared office space provider raised funding of $25 million from Keppel Land in a Series A round.
, founded by Neetish Sarda and Harsh Binani in April 2016, claims to have expanded its presence to encompass over 8 million square feet across more than 40 locations in 14 cities. The company claims to serve over 600 organisations, including Forbes 2000/Fortune 500 companies, and global multinational corporations.
Smartworks’ revenue from operations rose 97.5% to Rs 711 crore in FY23 from Rs 360 crore in FY22, while its losses widened by 44.3%, touching Rs 101 crore in FY23 compared with Rs 70 crore in FY22.
Inc42 was the first report on the funding.
Edited by Kanishk Singh