Coworking aggregator platform Stylework has raised Rs 4 crore and a strategic undisclosed investment amount in Pre-Series A round led by Inflection Point Ventures. ah! Ventures, We Founder Circle, Instarto and select HNI/Angel investors that included Rachit Poddar from Marwari Venture Catalysts, Anil Gupta - Ex-President Reliance Infrastructure/General Electric & Sunaina Gera - CEO GridLines, also participated in the round.
The Indian co-working market for Stylework currently stands at $10 billion and is expected to grow to $80 billion by FY 2022-23 end, whereas the global co-working market currently stands at $1.6 trillion and is expected to touch $3 trillion by FY 2022-23 end.
Vinay Bansal, Founder & CEO, IPV said in a release: "Stylework aims to unlock commercial co-working real estate by making it available in a flexible way. One can opt for their choice of office environment that is best suited for them from their own home city. Such unique models are a result of the COVID pandemic, which has forced a majority of the workforce to work from home. This is a huge target market and Stylework is addressing this opportunity in a timely manner.”
Founded in 2017 by Sparsh Khandelwal, Stylework is currently based out of NCR region and offers flexible coworking spaces in 800+ locations, catering to around 1.5 lakh seats inventory and services more than 120 corporates and more than 3,000 freelancers/startups.
The team will invest the current fundraise to expand its network in tier-1 cities - Bengaluru, Mumbai, Hyderabad, Pune and Chennai. A fair portion will also be used to upgrade technology and boost product growth. Significant attention will be given to capture market share fast with an aim to become a market leader in co-working aggregation.
Commenting on the fund raise, Sparsh Khandelwal, Founder & CEO, Stylework said, " This timely infusion of cash will help us leverage the rise of the flexible and hybrid work model industry."
The Indian co-working market for Stylework currently stands at $10 billion and is expected to grow to $80 billion by FY 2022-23 end, whereas the global co-working market currently stands at $1.6 trillion and is expected to touch $3 trillion by FY 2022-23 end.
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Vinay Bansal, Founder & CEO, IPV said in a release: "Stylework aims to unlock commercial co-working real estate by making it available in a flexible way. One can opt for their choice of office environment that is best suited for them from their own home city. Such unique models are a result of the COVID pandemic, which has forced a majority of the workforce to work from home. This is a huge target market and Stylework is addressing this opportunity in a timely manner.”
Founded in 2017 by Sparsh Khandelwal, Stylework is currently based out of NCR region and offers flexible coworking spaces in 800+ locations, catering to around 1.5 lakh seats inventory and services more than 120 corporates and more than 3,000 freelancers/startups.
The team will invest the current fundraise to expand its network in tier-1 cities - Bengaluru, Mumbai, Hyderabad, Pune and Chennai. A fair portion will also be used to upgrade technology and boost product growth. Significant attention will be given to capture market share fast with an aim to become a market leader in co-working aggregation.
Commenting on the fund raise, Sparsh Khandelwal, Founder & CEO, Stylework said, " This timely infusion of cash will help us leverage the rise of the flexible and hybrid work model industry."