WeWork India raises Rs 550Cr from BPEA Credit-managed fund

WeWork India, a company which provides co-working spaces, has raised Rs 550 crore from the funds managed by BPEA Credit to fuel its future growth and potential consolidation opportunities.

Currently, The company has a portfolio of around 70,000 desks spread over 6 million square feet area in 41 centres across Bengaluru, Mumbai, Gurugram, Noida, Hyderabad, and Pune.

Prior to the current raise, WeWork India had raised Rs 750 crore in 2020 from WeWork Global which helped the company to stabilise its operations during the COVID pandemic.

"Flexibility is paramount in today's workforce and the investment by BPEA Credit stands testament to the massive growth opportunity for flex workspaces in India," said Karan Virwani, CEO, WeWork India. "We are laser-focused on fuelling growth opportunities and fortifying our position as the leading flexible workspace brand with customisable and innovative solutions for all businesses," Virwani added.

WeWork India also recently made its first investment in the Bengaluru-based conferencing and collaboration platform Zoapi to offer innovative and immersive solutions to businesses.

In 2017, WeWork Global had partnered with Bengaluru-based Embassy Group to enter the Indian market.

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