Singapore-based Keppel Land has invested $25 million in Smartworks Coworking Space Pvt. Ltd, a flexible space solutions provider in India.
Smartworks Coworking Space offers 43,000 workstations from its 23 operational centers in nine cities, totaling 2.3 million square feet and catering to more than 400 organizations.
Smartworks, which has sold a minority stake to Keppel Land, plans to use the capital to not only grow in the nine cities it operates in but also make inroads into smaller cities such as Coimbatore, Ahmedabad, Bhubaneshwar and Chandigarh.
“The flexible space segment in India has been growing rapidly and Smartworks has been an active participant in this business over the past three years, with a large and widespread network across nine cities. Smartworks is also already cash flow positive and is profitable at a consolidated level," said Neetish Sarda, founder of Smartworks.
