Workspace Solutions Provider IndiQube Raises Rs 100 Cr from WestBridge Capital
IndiQube, Indian smart workspace solutions provider, today announced that it has raised Rs 100 crore ($15 million) of equity in a round led by WestBridge Capital, one of India’s leading investment firms managing over $2.5 billion in capital. The round also saw participation by Ashish Gupta, co-founder of Helion Ventures, who serves on the advisory board of the company.
IndiQube has launched a total 25 office spaces - 21 in Bengaluru, 3 in Pune and one in Hyderabad, strategically located at prime locations with over 1.4 Million sq. ft. of workspace. IndiQube is focused on serving all the real-estate related needs of their clients (workspace planning & flexibility, managing cafeteria, conference rooms, internet lease-lines, power back-ups, security, etc) to create a hassle-free environment enabling them to focus on their core business. Since its inception in 2015, IndiQube has been home to top emerging startups, brands and offshore development centers (ODC) including companies like LEVIS, Red Bus, Bluestone, Scripbox, Fresh Menu, No Broker, Rubrik, Thoughtspot, Fungible, Lendingkart, Cleo, Eximius and others. By the end of 2018, the company has plans to cross ~2.0 million sq. ft. of cumulative workspaces.
The funds from this round will be used to strengthen the company’s execution capabilities and fund the company’s aggressive expansion plans across Bangalore, Pune, Hyderabad, Chennai, Mumbai and NCR.
Mr. Rishi Das, Co – Founder and Chairman, IndiQube, said, “Our commitment towards creating office spaces of the future that are flexible and scalable, has also helped attract large companies to set up their offices at Indiqube. Today, our workspaces not only appeal to the new age workforce but also address business requirements of companies across segments more effectively. We believe, our partnership with WestBridge and Mr. Ashish Gupta will help us accelerate our expansion plans in new markets and better address our existing & prospective customer requirements.”
Mr. Sandeep Singhal, WestBridge Capital said, “We are very pleased to partner with Mr. Rishi Das, Ms. Meghna Agarwal and the management team at IndiQube. Managed smart workspaces are likely to grow rapidly as the large commercial real-estate market in India becomes more service-oriented and we believe that IndiQube, with its strong leadership team & customer focus is likely to become a leader in the segment."
IndiQube competes with the likes of other coworking companies such as Innov8, 91Springboard, Awfis and global office-sharing company WeWork.
