The rapid rise of the coworking and managed workspaces sector has been spurred in large part by India’s emergence as a corporate and startup hotspot. Stylework, a coworking marketplace, has acquired $2 million in its Series A1 round from investors including QI Ventures, We Founder Circle, and others, according to a company release. The company was valued at $20 million as a result of this.
Existing investor WFC, as well as iAngels Network, Sateeq Invest, certain global HNIs, and others, participated in the round.
The Series A1 close has fueled the enthusiasm of witnessing the growth cycle of the technical progress of India’s flexible workplace industry. There is no doubt that the membership systems of coworking spaces still require a lot of packaging work. To scale it and have a substantial impact on the coworking business in this great growing ecosystem in India, it requires our focused product’s attention to detail and deep integrations with our many supply coworking brand partners, which we will work hard to achieve,” said Khandelwal.
Gurgaon-based Sparsh Khandelwal started Stylework in 2016. It is currently present in over 80 cities. Stylework, a B2B SAAS marketplace model, has over 2500 partnered co-working spaces on its platforms across India and works with over 250 all-category coworking & managed office operator brands.
Ayan Chatterjee, CEO and Founder of QI Ventures, stated, “I believe that coworking is not only the future of work, but the future of how we live and thrive together.” We’re looking forward to seeing how the coworking aggregation business, and now our portfolio brand, Stylework, will unleash huge growth in Indian and potentially international markets.”
The Stylework Corporate Product Suite assists firms in optimizing office space expenditures, better allocating resources to employees for these flexible workplaces, increasing productivity and effectiveness, and lowering current and future costs. It accomplishes this through the use of hybrid billing systems as well as extra analytical and predictive features. The company finished the fiscal year 2022-23 with a GMV of more than $9-10 million and intends to have a GMV of around $30-35 million in the next fiscal year.