WeWork India Raises Rs 200 Cr

WeWork India has raised Rs 200 crore from investors, through a mix of debt and equity, the company said. Karan Virwani, CEO, WeWork India, said, "The new capital we have raised will help us in continuing our upwards momentum a

BY Realty Plus
Published - Wednesday, 14 Apr, 2021

WeWork India has raised Rs 200 crore from investors, through a mix of debt and equity, the company said. Karan Virwani, CEO, WeWork India, said, "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." The company claims to have leased 10,000 desks i.e. more than 7 lakh sq ft of area in Q1 2021. It's enterprise portfolio has seen a 10% jump to now constitute 60% enterprise members. "Over the last year, WeWork has also seen a strong demand from enterprises, who are now looking at flexible workspaces as a viable long-term real estate option," the company said. In December, it had launched about 1.65 lakh sq ft flexible workspace in Embassy Manyata NXT building in Bengaluru. The location had capacity of over 3,500 desks. It also leased out 1.5 lakh sq ft space to Microsoft in Noida and 15,700 sq ft of office space in Bengaluru to Khaitan & Co last year.