IndiQube raises $30 million from promoters and WestBridge Capital

BL Bengaluru Bureau | | Updated on: Apr 07, 2022
Bag of fund and a hourglass on a laptop

Bag of fund and a hourglass on a laptop | Photo Credit: William_Potter

Plans to more than double footprint to over 10 m sq ft, venture into Tier-II cities and ramp up technology integration

Bengaluru, April 7

A flexible workspace provider IndiQube has raised $30 million in funding from its founders and investment firm WestBridge Capital along with the participation of angel investor Ashish Gupta. 

Of the $30 million, IndiQube’s promoters themselves have infused $17 million. Commenting on the development, Rishi Das, Cofounder of IndiQube, said, “We are extremely thrilled to have a large PE firm like WestBridge Capital investing with us once again and backing us on our mission to create personalized workspaces for everyone. This round reinforces our belief that we are on the right track to solve India’s CRE problem. Over the next two years, we plan to more than double our pan-India footprint to over 10 m sq ft , venture into 15+ Tier-II cities and further ramp up technology integration, creating a consistent experience for our clients.” 

Plans expansion

IndiQube today has over 5 m sq ft of office space in over 60 properties spread across eight cities. It recently forayed into Tier-II cities , signing up over 1 lakh sq ft in Coimbatore.  Citing the immense opportunity in this space, Meghna Agarwal, Cofounder IndiQube, says, “Covid-19 has accelerated the adoption of flexible workspaces across the globe. We had an amazing year adding 100+ clients to our portfolio with over 1.2 m sq ft in incremental signups. We now look forward to even more exciting times ahead and thank WestBridge Capital for being a consistent partner for IndiQube in its growth journey.”  

Founded in 2015, IndiQube provides accessible, affordable, and personalized workspaces keeping employee delight at its heart. Leveraging its in-house technology platform MiQube, IndiQube provides a smart building experience, catering to the evolving needs of thriving startups, offshore development Centers and large enterprises, pan India. 

Published on April 07, 2022
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