Coworking co Smartworks bags Rs 100 Cr from investors led by Ananta Capital
Summary
Managed workspace provider Smartworks has raised approximately Rs 100 crore from a group of investors led by Ananta Capital.The funding round included participation from investors including Lend Lease, Plutus Capital, Dhawan Family Private Trust, Kili Ventures LLP, Anand Dalmia, and Stargazer Fund-1, among others, according to the companys MCA filings.Smartworks board gave the green light to issue 3,716,551 equity shares, each with a face value of Rs 10, at a price of Rs 269 per share. This includes Rs 259 as a share premium. The total amount raised was Rs 99,97,52,219, and the shares are fully paid up, as per the filings.According to Tracxn, the Gurugram-based companys latest funding round amounted to approximately $4 million from Singapores Keppel.Back in 2019, the homegrown shared office space provider raised funding of $25 million from Keppel Land in a Series A round.Smartworks, founded by Neetish Sarda and Harsh Binani in April 2016, claims to have expanded its presence to encompass over 8 million square feet across more than 40 locations in 14 cities. The company claims to serve over 600 organisations, including Forbes 2000/Fortune 500 companies, and global multinational corporations.Smartworks revenue from operations rose 97.5% to Rs 711 crore in FY23 from Rs 360 crore in FY22, while its losses widened by 44.3%, touching Rs 101 crore in FY23 compared with Rs 70 crore in FY22.Inc42 was the first report on the funding.