Co-working operator Smartworks has invested USD 20 million in the last two-and-half years on setting up 18 facilities, of which 3 are underway, to tap into the rising demand for shared office space, a top company official said.
Founded in April 2016, Smartworks has opened 15 facilities across nine cities covering 16,000 seating capacity and 1.1 million sq ft of area.
"We have opened our second centre at Chennai comprising 1,500 seats, taking the total number of centres to 15," Sarda said.
The company sub-leases the space to clients who give long-term commitment and absorbs large space, he added.
Asked about the revenue, Sarda said it is growing 15 per cent month-on-month but declined to share the details.
The revenue jumped five times during 2017-18.
Binani said the promoters have infused USD 20 million since inception and the same has been utilised on 15 centres that are operational and three in pipeline.
Smartworks is reinventing enterprise workspaces to boost employee productivity and to become the preferred workspace for India's vibrant millennials, he added.
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