Workspace provider IndiQube raises $30 mn in funding

Flexible workspace provider IndiQube has raised $30 million in a funding round that saw participation from IndiQube’s promoters as well as investment firm WestBridge Capital and angel investor Ashish Gupta. The start-up plans to utilise the proceeds to double its India footprints, venture into Tier-2 cities and ramp up technology integration.

Out of the $30 million, IndiQube’s promoters have infused $17 million, the company said.

“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 CRE problem. Over the next two years, we plan to more than double our PAN India footprint to over 10 Mn Sq.Ft., venture into 15+ Tier II cities and further ramp up technology integration, creating a consistent experience for our clients,” Rishi Das, co-founder of IndiQube said.

IndiQube today has over 5 mn.sq.ft. of office space in more than 60 properties spread across 8 cities. The company has forayed into Tier-2, signing up over 1 lakh sq.ft. in Coimbatore.

Founded in 2015, IndiQube claims to provide accessible, affordable, and personalised workspaces and has marquee clients like Myntra, Philips, Hitachi, Eli Lilly, Mahindra Logistics, Standard Chartered, Enphase, Allegis, Slice, Unacademy, UpGrad, Ola, Cars24 among others as its clients.