Co-working platform Stylework on Monday mentioned it has raised $2 million (over Rs 160 crore) at a valuation of $20 million in a Series A1 funding spherical, from buyers together with Capriglobal Holdings, QI Ventures and We Founder Circle, amongst others.
“Stylework’s spectacular progress and progressive strategy have caught the eye of the trade, resulting in a profitable Series-A1 funding of $2 million at a $20 million valued deal, from institutional buyers together with Capriglobal Holdings, QI Ventures and some undisclosed household workplaces. Existing investor WFC together with iAngels Network, Sateeq Invest, Impactful Pitch structured syndicates and some marquee trade combine world HNIs additionally participated within the spherical,” according to a statement.
Founded by 30Under30 entrepreneur Sparsh Khandelwal in 2016, Gurugram-headquartered Stylework has established a strong foothold as a co-working space aggregator in India. The company has expanded its partnered co-working supply presence from three cities to 10 and further to over 50 cities and currently operates in more than 80 cities. It has over 2,500 partnered co-working spaces on its platforms across India.
Sparsh Khandelwal, founder and CEO of the company, said, “The closing in of Series-A1 has ignited the excitement of witnessing the growth cycle of the technological evolution of flexible workspace marketplace in India. There is no doubt that the co-working spaces’ membership architectures still need lots of bundling work. To scale it and significantly impact the co-working industry, in this amazing growing ecosystem in India, it needs our focused product’s attention to detail and deep integrations with our multiple supply co-working brand partners, and we will be diligently working towards the same.”
He added that with the upcoming rounds of funding together with Series A2 and B, the crew at Stylework will concentrate on additional constructing and rising our superior versatile workspace aggregator know-how and product for corporates, which is able to open the decentralised hybrid workspace transactions, their monitoring, dealing with, and allocations, from the centralised window dashboard, at a a lot bigger scale.
The firm additionally plans to enter the Southeast Asia and Middle East & North Africa areas.
QI Ventures founder and CEO Ayan Chatterjee mentioned, “Co-working is not only the way forward for work, however the way forward for how we stay and thrive collectively. Excited instances forward to see how the coworking aggregation trade & now our portfolio model, Stylework, unleash huge progress in Indian and doubtlessly worldwide markets.”
Neeraj Tyagi, co-founder and CEO of We Founder Circle, said, “With the rise of hybrid flexible work mode, there is a huge demand for flexible and managed workspace solutions. And, a B2B SAAS co-working aggregator venture like Stylework has the potential to revolutionise the way companies will formulate their flex workspace strategies.”
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