Wework India Gets $100 Million Funding

Even as WeWork Global continues on aggressive cost cutting and layoffs following a failed IPO attempt, the company will be funding WeWork India a $100 million to help grow in one of its positive market. WeWork India plans to use the capital for focused growth in the Indian market over the next 36 months. WeWork India is already profitable at the centre level and is targeting to break even by the end of June 2020 at the company level too. WeWork India, a fully-owned subsidiary of Embassy Group is one of the key players for the parent company. The company that earlier focused on increasing the number of desks to 90,000 by the end of 2020, said the focus is on profitability then adding desks.