Office space management startup Workie has raised INR 13 Cr ($1.5 Mn) in an equity funding round to fuel its expansion plans and strengthen market leadership.
The round was led by a host of backers, including Sunil Singhania family office, NAV Capital, Raman Roy, Dharmendra Jain, Gaurav Singhvi and Sunil Singhvi among others.
“At Workie, we empower businesses to thrive without the burden of traditional office leasing costs and methods. Our clients enjoy greater flexibility, cost savings and opportunities to expand, and grow up to 10x faster than conventional methods,” said Sawan Laddha, founder and CEO of Workie.
Founded in 2017 by Laddha, Workie is a co-working space provider that claims to transform commercial properties into flexible, cost-effective workspaces for businesses of all sizes.
It specialises in build-to-suit office solutions and offers ready-to-move-in and co-working spaces across various cities. It also provides businesses with tailored office spaces, ensuring cost efficiency and low investment, while handling all operational aspects.
With over 150 clients such as Zomato, Bajaj, Patanjali, Schneider, and OYO, Workie claims to manage 15,000 seats across 50 prime locations, covering 10,00,000 sq. ft. of commercial space in India. The startup operates in more than 15 cities, including Indore, Mumbai, Chennai, Pune, and Bengaluru.
Post-pandemic, the coworking space sector has seen significant driven by the return to office. As companies struggle to find affordable and suitable office spaces, the demand for flexible, cost-effective coworking solutions has surged. This supply-demand gap has fueled the expansion of coworking startups, with companies like Awfis, SmartWorks, and DevX making successful IPOs, and others like Indiqube and WeWork India preparing to go public.
In November last year, coworking startup Innov8 sought to raise INR 100 Cr ($11.9 Mn) in a funding round at a valuation of INR 1,200 Cr ($142.2 Mn).
Meanwhile, SmartWorks raised $12 Mn (around INR 100 Cr) in June, led by Ananta Capital, the backer of Bella Vita Organic.
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