Latest News | IndiQube Raises USD 30 Mln

New Delhi, Apr 6 (PTI) Coworking operator IndiQube on Wednesday said it has raised USD 30 million (over Rs 226 crore) from promoters, WestBridge Capital and others.

The funding round saw participation from IndiQube's promoters, investment firm WestBridge Capital and angel investor Ashish Gupta, the company said in a statement.

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"Out of USD 30 million, IndiQube's promoters themselves have infused USD 17 million, clearly showing that they are extremely bullish and confident about the future potential of their business," IndiQube said.

Rishi Das, co-founder of IndiQube, said the company plans to more than double its pan-India footprint to over 10 million square feet, venture into 15+ Tier II cities, and further ramp up technology integration.

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IndiQube currently has over 4.5 million square feet of office space in more than 60 properties, spread across eight cities.

Founded in 2015, IndiQube is India's leading flexible workspace provider that provides accessible, affordable, and personalised workspaces.

According to Colliers India, flexible space saw its share increasing to about 15 per cent in the total office leasing during January-March 2022 from 5 per cent in Q1 2021.

"This is led by strong demand from occupiers for flex spaces and the associated flexibility in leases that come with it. Mainstream corporates continue to explore managed offices, and this has led flex spaces to open new centers in metro cities and even in non-metro cities," Colliers said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)