Coworking aggregator Stylework raises Rs 4 crore from Inflection Point Ventures

• The startup will use the funding to expand its network in Tier-1 cities like Mumbai, Bengaluru, Hyderabad, Pune, and Chennai.
• Other investors including ah! Ventures, We Founder Circle, Anil Gupta, Sunaina Gera, Instarto, among others, also participated in the round.
• In October 2018, Stylework had raised Rs 75 lakh in a seed funding round.

Gurugram-based coworking aggregator Stylework has raised Rs 4 crore ($546K) in a pre-Series A funding round led by angel investment firm Inflection Point Ventures.

Other investors, including ah! Ventures, We Founder Circle, Instarto, Rachit Poddar from Marwari Venture Catalysts, Anil Gupta (Managing Partner & CEO at AN Corporate Transformation, EX-President Reliance Infrastructure), and Sunaina Gera (CEO of Gridlines), also participated in the funding round.

Stylework intends to use the funding for technology upgradation, boost product growth, and expanding its network in Tier-1 cities like Mumbai, Bengaluru, Hyderabad, Pune, and Chennai, the statement said. The startup aims to increase its market share in the coworking aggregation space.

Prior to this round, Stylework had raised Rs 75 lakh ($81K) in a seed funding round. To date, it has raised over Rs 4.8 crore in funding.

Founded in 2017 by Sparsh Khandelwal, Stylework Innovation Hub Private Limited operates as Stylework is a coworking space aggregator that provides unconventional solutions to the challenges faced in workspace management. It currently has its presence in 800+ locations providing services to 120+ companies and 3000+ freelancers/startups.

It plans to increase the seating capacity in coworking space from 1,50,000 to 400,000 within a year.

Commenting on the development, Sparsh Khandelwal, Founder & CEO, Stylework said, "This timely infusion of cash will help us leverage the rise of the flexible and hybrid work model industry. With our innovative remote working customisation, we are putting the power back in the hands of the employees and entrepreneurs empowering them to acquire their own working space at their own pace and own city."

The startup aims to add more companies and startups by expanding its presence in Tier-1 & 2 cities across the country, he said.

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Speaking on the investment, Vinay Bansal from IPV, said, "Stylework aims to unlock commercial co-working real estate by making it available in a flexible way. One can opt for their choice of office environment that is best suited for them from their own home city. Such unique models are a result of the COVID pandemic, which has forced a majority of the workforce to work from home."

"This is a huge target market and Stylework is addressing this opportunity in a timely manner. Sparsh and his team are poised to leverage this new business opportunity, making it an attractive proposition for us to invest," he said.

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