Table Space plans to expand its operations upon raising $300 million in funding from Hill House
- ByStartupStory | November 28, 2022
Table Space the Bangalore-based startup has raised $300 million from Hill House Capital. The company is planning to utilize this fund to expand its operations according to a report by The Economic Times. Hill House Capital is an investment fund that mainly does buyouts and growth investments in regions including Asia, North America, and Europe. In 2021, the company was able to manage $73.3 billion in assets.
Table Space was founded in 2017 with the goal of providing workspaces to big enterprises in India. Currently, the company is managing a huge space of 5 million square feet, which is capable of accommodating 45,000-50,000 people. The company is currently planning to expand its footprint to eight million. As of now, the company has no plans for capital infusion.
“Table Space has signed some large clients recently and has been looking for funding to expand its business. The fresh funding will help them expand at a faster pace,” multiple people who are aware of the development, told The Economic Times.
“Corporates are increasingly seeing offices as both a capital-driven expenditure and a value-driven operating expense. The events of the past two years have accelerated the journey for enterprises, and many flex operators have expanded aggressively to support them in this transition,” a person told The Economic Times while talking about the deal.
Currently, Table Space operates in six cities including Delhi-NCR, Hyderabad, Mumbai, Pune, Bengaluru, and Chennai. The company leased more than 1.2 million square feet for Grade A commercial projects to various businesses including Shobha in Bengaluru, Gigaplex in Navi Mumbai, DLF Cyber City Building 10 in Gurugram, BPTP Capital City in Noida, and Panchaseel Business Park in Pune.
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