IndiQube raises INR 100cr (USD 15mn) Equity from WestBridge Capital
Bengaluru, 19 June 2018: IndiQube, one of India’s leading smart workspace solutions provider, today announced that it has raised INR 100cr (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 isone of the pioneers in the managed smart workspaces segment and has emerged asa market leader in the startup hub of Bengaluru with 25 office spacesstrategically located at prime locations with over 1.4 Million sq. ft. ofworkspace. IndiQube is focused on serving all the real-estate related needs oftheir clients (workspace planning & flexibility, managing cafeteria,conference rooms, internet lease-lines, power back-ups, security, etc) tocreate 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 focuson elevating the customer experience for its 14000+ members to establish itselfas a partner in growth for its clientele offering business scalability andagility.
The fundsfrom this round will be used to strengthen the company’s execution capabilitiesand fund the company’s aggressive expansion plans across Bangalore, Pune,Hyderabad, Chennai, Mumbai and NCR.
Mr. RishiDas, Co – Founder and Chairman, IndiQube, said, “IndiQube embarked on this fabulous journey in2015 with amazing like-minded people who believed in us and shared our visionof fulfilling the evolving workspace requirements for start–ups and SMEs acrossthe country. We are now very excited to have WestBridge CrossoverFund, one of the leading PE investors in India, partner with us to help buildout this vision for work spaces of the future.
Ourcommitment towards creating office spaces of the future that are flexible andscalable, has also helped attract large companies to set up their offices atIndiqube. Today, our workspaces not only appeal to the new age workforce butalso address business requirements of companies across segments moreeffectively. We believe, our partnership with WestBridge and Mr. Ashish Guptawill help us accelerate our expansion plans in new markets and better addressour existing & prospective customer requirements.”
Ms.Meghna Agarwal, Co- Founder, IndiQube said, “We are excited to have WestBridge Capitaljoin us on our growth journey. WestBridge brings with it a wealth of experiencein many areas including strategy, operations, management recruiting etc. whichwill be instrumental in realizing IndiQube’s ambition of being recognized as aleading 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. Managedsmart workspaces are likely to grow rapidly as the large commercial real-estatemarket in India becomes more service-oriented and we believe that IndiQube,with its strong leadership team & customer focus is likely to become aleader in the segment."
IndiQube’sseamless and hassle-free work environment has nurtured startups and enabledthem to focus on things that matter to their business. The quality of services,large network, and ease of operations, backed by robust technology offeredby the company to businesses has made IndiQube the preferred destination forshared workspaces in Bangalore. By the end of 2018, the company has plans tocross ~2.0 million sq. ft. of cumulative workspaces. Today, IndiQube been ableto establish itself as a business enhancer for current as well as potentialclients in Bangalore. In the last year, IndiQube welcomed a number of ODC’sinto its growth ecosystem, thus becoming one of the top choices for companieswho are looking out to expand in India.
Withhousehold brands like Red Bus, Bluestone, Scripbox, Fresh Menu, No Broker,Edureka, Playment, Mfine, also currently headquartered out of IndiQube’soffice, the company has proven its ability to serve customers across segmentsand is looking to collaborate with similar high-quality companies to betterserve their real-estate needs.