Stylework raises Rs 30 crore to boost global expansion, technology enhancement

Mumbai, Nov 19 (PTI) SaaS-based co-working/managed workspace aggregator Stylework on Wednesday announced the closure of Rs 30-crore Pre-Series B funding, which is planned to be deployed towards technology enhancement, domestic and international market expansion, and hiring key leadership personnel.

Of the total funding, the company had achieved the first close of Rs 10-crore led by Equentis Angel Fund last month, with participation from Karekeba ventures /Cogniphy AIF Fund alongside continued subscriptions from Lets Venture Fund, MoneyVyapaar, HNIs and other strategic investors, Stylework said.

Stating that it continues to scale profitably and strengthen its enterprise acquisitions across India, the company said the funds will be strategically utilized to drive technology for advanced AI-driven marketplace for operators, clients and channel partners led workspace ecosystem, predictive analytics, and utilization to cost comparable dashboards, and to fuel other growth and key partnerships verticals and deepen market penetration in Tier 1 and emerging Tier 2 & 3 cities in the country.

India's flexible office market, currently valued at USD 3.5 billion, is projected to reach USD 11.39 billion by 2028-2029, growing at an over 13.7 per cent CAGR.

As enterprises shift to serviced workspace models along-with massive global capability centers setting up huge offices in India, Stylework's Master Service Agreement led tech-enabled platform continues to capture this demand through Flexboard and its other products, connecting currently 650+ coworking and managed office operators (5000+ centers) to enterprise clients nationwide, the company said.

"We're witnessing a fundamental transformation in how India Workspace Market is evolving & will unfold itself to a roaring USD 10-billion Flex portfolio in coming 2-3 years," said Sparsh Khandelwal, Founder & CEO of Stylework.

In the past year, Stylework said, it has maintained profitability while achieving with Rs 280 crore annualized GMV, 70,000+ seats sold, and expanding its network to 125+ cities.

Backed by marquee investors, including Capri Global Holdings, SCIF Fund, We Founder Circle, Inflection Point Ventures, Ah Ventures, and BizdateUp, Stylework has built one of India's most comprehensive aggregator ecosystems for flexible workspaces, creating continued value for stakeholders, it said.

This growth transaction was managed for Stylework by Lexansh & Co. PTI IAS MR