GoWork in Talks with PE Funds to Raise $200M
Registers a 37% M-o-M growth rate, plans to woo multinational corporates with 50 centers across India in next 5 years
Gurugram-based co-working space operator, GoWork is planning to raise $200 million from PE investors during its next funding. GoWork is an ecosystem for entrepreneurship and aims to utilize the funds acquired to realize its massive expansion plans, which includes launching at least 50 campuses across the country in the next 5 years. The expansion will start from top metro cities such as prime regions of Delhi, Mumbai and Bangalore following a Joint Venture model with big brands and corporates to revamp their existing office spaces, making them more comfortable through a co-working vibe.
GoWork has registered a M-o-M growth rate of 37%.
Commenting on GoWork’s progress, Sudeep Singh, Co-Founder and Chief Evangelist, GoWork, said, “The co-working segment is growing rapidly in India and we want to strengthen our position as the leading player in the domain through rapid expansion. With increasing competition, we foresee a massive upsurge in the market combined with a culture of consolidations, buyouts and mergers. We want to move in this direction following our policy of ownership of spaces that offers greater flexibility to our clients.”
Spread over 8 lakh square feet with a capacity of 12,000 seats across its two offices in Gurugram. GoWork is the brainchild of Sanjeev Mahajan (Chairman), Sudeep Singh (Chief Evangelist and Co-founder) and Nimit Mahajan (Co-founder). It was founded in June, 2017.
It competes with the likes of Awfis, BHIVE Workplace, Innov8, 91springboard, IndiQube, Creator’s Gurukul, and US-based coworking startup WeWork, among others. Recently, shared workspace provider Awfis raised an additional $20 million series C funding from marquee investors Sequoia India and Innoven Capital and The Three Sisters: Institutional office TTS:IO led by Radha Kapoor Khanna.