BackIndiQube raises $30 million from promoters, WestBridge Capital
Of the $30 million, IndiQube’s promoters have infused $17 million
Premium BENGALURU : Flexible workspace provider IndiQube on Wednesday said it has raised $30 million in Series B funding, as the company eyes its next phase of growth, from the company’s promoters, existing investors WestBridge Capital and Ashish Gupta., an angel investor
Of the $30 million, IndiQube’s promoters have infused $17 million. The Bengaluru-based startup was founded in 2015.
In 2018, the co-working firm had raised ₹100 crore from WestBridge Capital in a Series A funding round, along with Ashish Gupta.
“We are extremely thrilled to have a large PE firm like WestBridge Capital investing with us once again and backing us on our mission to create personalized workspaces for everyone. This round reinforces our belief that we are on the right track to solve India’s commercial real estate problem. Over the next two years, we plan to more than double our pan India footprint to over 10 million sq ft, venture into over 15 Tier II cities and further ramp up technology integration, creating a consistent experience for our clients," said Rishi Das, co-founder of IndiQube.
IndiQube currently has over 4.5 million sq ft of office space in 60 properties across eight cities. It has recently entered Tier II locations, signing up over one lakh sq ft space in Coimbatore.
Leveraging its inhouse technology platform MiQube, IndiQube provides a smart building experience, catering to the evolving needs of startups, offshore development centers and large enterprises.
Its tenants include Myntra, Philips, Hitachi, Eli Lilly, Mahindra Logistics, Standard Chartered, Enphase, Allegis, Slice, Unacademy, UpGrad, Ola, Cars24, Tata Digital, Navi Technologies among others.
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