Coworking space GoWork raises ₹370 crores from BlackRock’s Private Credit

Ad

IT customer support service

5 Reasons Why IT Customer Support Services Will Help You Grow Your Business

IT customer support service is critical for the growth of your business because it helps you retain your customers and make more sales from them. When you provide excellent customer support service, you can...

Ad

8 Finance Tips for New Tech Startup Businesses

Over 627,000 small business start-ups are made every year, of those, over 29% fail because they ran out of money. If you're building a tech startup and you're short on cash don't let this define your success. Financing...

Gurugram-based co-working space GoWork has raised ₹370 crores debt funding from BlackRock’s Private Credit team. CLSA Capital Partner’s Special Situations Group also participated in the funding round.

The coworking space will use the funds to scale its business and provide value-added services. The startup plans to open 50 centers across major cities in India by 2025.

GoWork’s CEO Sudeep Singh said, “At GoWork, we aim to create a support system that caters to not just the physical/infrastructural requirements of companies but one that encompasses all aspects of the business. This funding is one step forward towards achieving that goal.”

GoWork currently offers 8 lakh sq ft of coworking space with a capacity of 12,000 seats at two locations in Gurugram. Some of its major clients include CoverFox, Impactify Consulting, and Paytm Mall. The coworking space is now targeting startups with its sessions to support fundraising, investor networking, and several other startup-related events.

GoWork’s funding can be a sign of growing coworking culture in India. With this latest deal, the coworking space will compete with SoftBank-backed WeWork, OYO-owned Innov8, and Sequoia-backed Awfis. Moreover, OYO recently announced its foray into coworking segment with the launch of OYO Workspaces which will further intensify the competition in this sector in India.

OYO is set to launch three coworking brands including Workflo and PowerStation for the budget category and Innov8 will be a part of its premium category. According to The State of the Startup Ecosystem Report by Inc42, India has more than 300 coworking spaces with around 720 centers across major cities that covers a whopping 150 million sq ft in area.

So, what are your thoughts on this story?
Tell us in the comments.

Boost Your Knowledge. Subscribe & Learn Everything about the Indian Startup Ecosystem

Divya Baral
Divya is the correspondent for the category "Funding News", "Funding Roundups" and author of "Fundraising Essentials". She has been writing for 10 years.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Download Premium WordPress Themes Free
Download WordPress Themes
Download Premium WordPress Themes Free
Download Premium WordPress Themes Free
udemy paid course free download
download karbonn firmware
Download WordPress Themes

Receive Daily Funding Updates

SUBSCRIBE
Close

WANNA SUBSCRIBE

GET DAILY UPDATES ABOUT THE STARTUP ECOSYSTEM
I AM IN
* Terms & Conditions Apply
close-link