Stylework raises $2 million in Series A1 funding round to develop and expand its co-working marketplace technology for corporates
- ByStartupStory | April 10, 2023
Stylework, a marketplace for co-working, has raised $2 million in its Series A1 round of funding from institutional investors like Capriglobal Holdings, QI Ventures, and some unnamed family offices. WFC, a current backer, as well as iAngels Network, Sateeq Invest, and Impactful Pitch took part in the round.
Stylework claims that the money was raised at a $20 million valuation.
According to a press release from the company, the funds will be used to continue developing and expanding our advanced flexible workspace aggregator technology and product for corporates.
Stylework, a B2B SAAS marketplace model founded by Sparsh Khandelwal, partners with over 250 all-category coworking and managed office operator brands and has over 2,500 partnered co-working spaces on its platforms throughout India.
The Gurugram-based company asserts that it now operates in over 80 cities and has increased its partnered coworking supply presence from 3 cities to 10, then to over 50 cities.
The startup is currently present in 80 tier I, tier II, tier III, and tier IV cities. It plans to concentrate on expanding its market share in India while also opening launch and growth pads in the SEA and MENA regions.
According to Stylework, its GMV has surpassed $16 million and it has sold about 22,000 seats since its launch, with each seat generating a net income of between Rs 10 and 12,000.
The Mumbai-based WFC has already enabled $20 million in investments across 100 startup deals since its incorporation and invests between $50,000 and $2,000,000 in early-stage startups.
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