WeWork India, which offers co-working spaces and utilizes technology, on Monday, said it has raised Rs 200 crore from investors as equity and debt to grow its business and become profitable this year.
Notably, Bengaluru-based WeWork India sold 10,000 desk during the January-March quarter comprising about 7 lakh sq ft office space.
"The new capital we have raised will help us in continuing our upwards momentum and truly explore the potential of flexible workspaces in the Indian market," said Karan Virwani, CEO, WeWork India.
Stating that the future of flexible workspaces looks bright, he said the company has the right foundations and experience to provide safe, flexible options for companies and workforce of all sizes. "While last year was challenging for the industry, we have seen a steady uptick in demand from members of all sizes, and we will continue to remain bullish and focus on the growth of flexible workspaces in the country. The company's focus would remain on providing a wide range of flexible offerings to meet its members' evolving needs, he added.
In line with its long-term growth strategy and aim for profitability, the company said it has reported most successful sales quarter yet. With 10,000 desks sold, WeWork said it remains committed to supporting the growth of the flexible workspace industry while also meeting long-term sales and revenue targets.
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