Co-working platform Stylework on Monday said it has raised $2 million (over Rs 160 crore) at a valuation of $20 million in a Series A1 funding round, from investors including Capriglobal Holdings, QI Ventures and We Founder Circle, among others.
“Stylework’s impressive growth and innovative approach have caught the attention of the industry, leading to a successful Series-A1 funding of $2 million at a $20 million valued deal, from institutional investors including Capriglobal Holdings, QI Ventures and some undisclosed family offices. Existing investor WFC along with iAngels Network, Sateeq Invest, Impactful Pitch structured syndicates and some marquee industry mix global HNIs also participated in the round,” 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 including Series A2 and B, the team at Stylework will focus on further building and growing our advanced flexible workspace aggregator technology and product for corporates, which will open the decentralised hybrid workspace transactions, their monitoring, handling, and allocations, from the centralised window dashboard, at a much larger scale.
The company also plans to enter the Southeast Asia and Middle East & North Africa regions.
QI Ventures founder and CEO Ayan Chatterjee said, “Co-working is not just the future of work, but the future of how we live and thrive together. Excited times ahead to see how the coworking aggregation industry & now our portfolio brand, Stylework, unleash massive growth in Indian and potentially international 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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