IndiQube, smart workspace solutions provider, announced that it has raised INR 100 Cr (USD 15 million) of equity in a round led by WestBridge Capital, an investment firm managing over USD 2.5 billion of 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 the workspace. IndiQube is focused on serving all the real-estate related needs of their clients (workspace planning & flexibility, managing cafeteria, conference rooms, internet lease-lines, power back-ups, security, etc) to create a hassle-free environment enabling them to focus on their core business.
Since its inception in 2015, IndiQube has been home to top emerging startups, brands and offshore development centers (ODC) including companies like LEVIS, Red Bus, Bluestone, Scripbox, Fresh Menu, No Broker, Rubrik, Thoughtspot, Fungible, Lendingkart, Cleo, Eximius and others. The company continues to focus on elevating the customer experience for its 14000+ members to establish itself as a partner in growth for its clientele offering business scalability and agility.
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.
Mr. Rishi Das, Co – Founder and Chairman, IndiQube, said, “IndiQube embarked on this fabulous journey in 2015 with amazing like-minded people who believed in us and shared our vision of fulfilling the evolving workspace requirements for start–ups and SMEs across the country. 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.
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. We believe, our partnership with WestBridge and Mr. Ashish Gupta will help us accelerate our expansion plans in new markets and better address our existing & prospective customer requirements.”
Ms. Meghna Agarwal, Co- Founder, IndiQube said, “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.”
Mr. Sandeep Singhal, WestBridge Capital said, “We are very pleased to partner with Mr. Rishi Das, Ms. 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 & customer focus is likely to become a leader in the segment.”
IndiQube’s seamless and hassle-free work environment has nurtured startups and enabled them to focus on things that matter to their business. The quality of services, large network, and ease of operations, backed by robust technology offered by the company to businesses has made IndiQube the preferred destination for shared workspaces in Bangalore. By the end of 2018, the company has plans to cross ~2.0 million sq. ft. of cumulative workspaces. Today, IndiQube been able to establish itself as a business enhancer for current as well as potential clients in Bangalore. In the last year, IndiQube welcomed a number of ODC’s into its growth ecosystem, thus becoming one of the top choices for companies who are looking out to expand in India.
With household brands like Red Bus, Bluestone, Scripbox, Fresh Menu, No Broker, Edureka, Playment, Mfine, also currently headquartered out of IndiQube’s office, the company has proven its ability to serve customers across segments and is looking to collaborate with similar high-quality companies to better serve their real-estate needs.