Smartworks, a managed workspace provider, has secured approximately Rs 100 crore in a funding round led by Ananta Capital. Other participants in this round included Lend Lease, Plutus Capital, Dhawan Family Private Trust, Kili Ventures LLP, Anand Dalmia, and Stargazer Fund-1, as per the company’s MCA filings.
The board of Smartworks approved the issuance of 3,716,551 equity shares with a face value of Rs 10 each, priced at Rs 269 per share. This includes a share premium of Rs 259. The total amount raised is Rs 99,97,52,219, with the shares being fully paid up.
According to Tracxn, this Gurugram-based company’s latest funding round also saw an investment of approximately $4 million from Singapore’s Keppel. In 2019, Smartworks raised $25 million from Keppel Land in a Series A round.
Founded by Neetish Sarda and Harsh Binani in April 2016, Smartworks claims to have expanded its footprint to over 8 million square feet across more than 40 locations in 14 cities. The company serves over 600 organizations, including Forbes 2000/Fortune 500 companies and global multinational corporations.
Smartworks reported a 97.5% increase in revenue from operations, reaching Rs 711 crore in FY23, up from Rs 360 crore in FY22. However, its losses also widened by 44.3%, amounting to Rs 101 crore in FY23 compared to Rs 70 crore in FY22.
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By Proptechbuzz
By Ravi Kumar