IndiQube, a flexible workspace provider, announced on Wednesday that it has acquired $30 million in Series B funding from the company’s creators, existing investors WestBridge Capital, and Ashish Gupta, an angel investor, as it prepares for its next phase of growth. IndiQube’s promoters have put in $17 million of the $30 million.
The Bengaluru-based startup was founded in 2015.Along with Ashish Gupta, the co-working startup raised Rs 100 crore in a Series A fundraising round from WestBridge Capital in 2018.
“We are extremely thrilled to have a large PE firm like WestBridge Capital investing with us once again and backing us on our mission to create personalized workspaces for everyone.”
This round reinforces our belief that we are on the right track to solve India’s commercial real estate problem. Over the next two years, we plan to more than double our pan India footprint to over 10 million sq ft, venture into over 15 Tier II cities and further ramp up technology integration, creating a consistent experience for our clients,” said Rishi Das, co-founder of IndiQube.
IndiQube owns over 4.5 million square feet of office space spread across 60 sites in eight cities. It recently expanded into Tier II markets, signing over one lakh square feet of space in Coimbatore.
IndiQube provides a smart building experience, adapting to the increasing demands of startups, offshore development centres, and large organisations, using its in-house technology platform MiQube.
Myntra, Philips, Hitachi, Eli Lilly, Mahindra Logistics, Standard Chartered, Enphase, Allegis, Slice, Unacademy, UpGrad, Ola, Cars24, Tata Digital, and Navi Technologies are just a few of the tenants.