Keppel Land, An Existing Backer, Provides Smartworks With $4 Million

Exclusive: Keppel Land, An Existing Backer, Provides Smartworks With $4 Million

24th April 2024 – Smartworks, a supplier of coworking spaces, has secured over $4 million (around INR 33 crore) from Keppel Land, a Singaporean company. The business gave cumulative convertible preference shares to real estate behemoth Keppel Land for INR 269 per share, according to its regulatory filing. Most likely, the cash will be a part of a bigger fundraising round. Neetish Sarda, a cofounder of Smartworks, said in May of last year that the company was hoping to raise between $70 and $90 million. 

Sarda told the news agency PTI that we might raise between $70 million and $90 million in stock funding. We want growth money for FY25 and beyond. This story’s publication was the first time Smartworks responded to a thorough question about financing. 

Nearly five years have passed since the business secured $25 million from Keppel Land in its Series A fundraising round. Sarda and Harsh Binani founded Smartworks, a shared workplace company, in 2016. Offering a comprehensive portfolio of products, it offers office spaces that can be quickly designed and modified to meet the demands of its business customers. 


Conclusion

The business says it has more than 8 million square feet of office space spread across more than 40 sites in 14 cities, including Bengaluru, Kolkata, Mumbai, Pune, Delhi NCR, and Kolkata. It serves more than 600 organizations, including unicorns and unicorns, Fortune 500 and Forbes 2000 enterprises, and global corporations. 

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