This coworking SaaS based startup gets $2 million, valued at $20 million
The rise of the coworking and managed workspaces market in recent years has been greatly fueled by India's emergence as a corporate and startup hotspot. In this space, Coworking marketplace Stylework has received $2 million in its Series A1 round from investors like QI Ventures, We Founder Circle, and others, the company said in a statement. This valued the company at $20 million.
In the round, existing investor WFC along with iAngels Network, Sateeq Invest, some global HNIs, and others also participated.
"The closing in of Series A1 has ignited the excitement of witnessing the growth cycle of the technological evolution of the flexible workspace marketplace in India. There is no doubt that the coworking spaces' membership architectures still need lots of bundling work. To scale it and significantly impact the coworking industry, in this amazing growing ecosystem in India, it needs our focused product's attention to detail and deep integrations with our multiple supply coworking brand partners, and we will be diligently working towards the same," said Khandelwal.
Gurgaon-based Stylework was founded by Sparsh Khandelwal in 2016. It currently operates in more than 80 cities. Stylework, a B2B SAAS marketplace model, has more than 2500 partnered co-working spaces on its platforms across India and is in partnership with over 250 all-category coworking & managed office operator brands for the same.
QI Ventures’ CEO and founder, Ayan Chatterjee, said, “I believe that coworking 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."
The Stylework Corporate Product Suite helps businesses optimising office space expenditures, better allocate resources to employees for these flexible workspaces, boost productivity and effectiveness, and reduce costs for the present and the future. It does this with the help of hybrid billing mechanisms and additional analytical and predictive features.
The company closed the financial year 2022-23 at over $9-10 million GMV and expects to have a GMV of around $30-35 million in the next financial year.
ALSO READ: Indian tech startup funding slumps 75% in March quarter: Tracxn
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
TBO Tek IPO Listing LIVE Update: Bumper Debut! Share list at 55% premium - Buy, sell or hold? Check Anil Singhvi's view
01:42 PM IST