WestBridge Capital invests Rs. 100 cr for equity in IndiQube
New Delhi [India], June 19: India’s leading smart workspace solutions provider IndiQube has announced that it has raised Rs. 100 cr (USD 15 million) of equity in a round led by WestBridge Capital, one of India’s leading investment firms managing over USD 2.5 billion in capital.
The round also saw participation by Ashish Gupta, co-founder of Helion Ventures, who serves on the advisory board of the company.
IndiQube is one of the pioneers in the managed smart workspaces segment and has emerged as a market leader in the startup hub of Bengaluru with 25 office spaces strategically located at prime locations with over 1.4 Million sq. ft. of workspace.
Focused on serving all the real-estate related needs of their clients, IndiQube creates hassle-free environment enabling them to focus on their core business.
The funds from this round will be used to strengthen the company’s execution capabilities and fund the company’s aggressive expansion plans across Bangalore, Pune, Hyderabad, Chennai, Mumbai and NCR.
“We are now very excited to have WestBridge Crossover Fund, one of the leading PE investors in India, partner with us to help build out this vision for work spaces of the future,” said co-founder and chairman, IndiQube, Rishi Das.
“Our commitment towards creating office spaces of the future that are flexible and scalable, has also helped attract large companies to set up their offices at Indiqube. Today, our workspaces not only appeal to the new age workforce but also address business requirements of companies across segments more effectively,” added Das.
“We are excited to have WestBridge Capital join us on our growth journey. WestBridge brings with it a wealth of experience in many areas including strategy, operations, management recruiting etc. which will be instrumental in realizing IndiQube’s ambition of being recognized as a leading workspace solution provider in India,” said co-founder, IndiQube, Meghna Agarwal.
“We are very pleased to partner with Rishi Das, Meghna Agarwal and the management team at IndiQube. Managed smart workspaces are likely to grow rapidly as the large commercial real-estate market in India becomes more service-oriented and we believe that IndiQube, with its strong leadership team and customer focus is likely to become a leader in the segment,” said WestBridge Capital, Sandeep Singhal.