Stylework offers flexible co-working spaces in 800+ locations, catering to around 1.5 L seats inventory and services 120+ corporates and 3000+ freelancers/startups.
Co-working Aggregator Startup Stylework raises funds from ah! Ventures Angel Platform.
This is ah! Ventures’ 68th investment taking its total investment portfolio to INR 200 CR (~28.5 MN USD) with 10 exits till date. This is ah! Ventures’s 5th investment in 2021 and has plans for 50+ investments in 2021 totalling to INR 150+ CR (~21MN USD).
The Indian co-working market for Stylework currently stands at $10 billion and is expected to grow to $80 billion by FY 2022-23 end, whereas the global co-working market currently stands at $1.6 trillion and is expected to touch $ 3 trillion by FY 2022-23 end.
Founded in 2017 by Sparsh Khandelwal, Stylework is currently based out of NCR region and offers flexible co-working spaces in 800+ locations, catering to around 1.5 L seats inventory and services 120+ corporates and 3000+ freelancers/startups. The team has raised INR 75 lakhs in a Seed Round in 2019, from where it has achieved 25x revenue growth till date. The team will invest the current fund raise to expand its network in tier-1 cities – Bengaluru, Mumbai, Hyderabad, Pune and Chennai. A fair portion will also be used to upgrade technology and boost product growth. Significant attention will be given to capture market share fast with an aim to become a market leader in co-working aggregation.
Sparsh Khandelwal, Founder & CEO, Stylework says “The current infusion of cash will help us leverage the rise of the flexible and hybrid work model industry. With our innovative remote working customisation, we are putting the power back in the hands of the employees and entrepreneurs empowering them to acquire their own working space at their own pace and own city. In 2021-22, we aim to add more corporates to our client list and establish footprints in Tier 1 & 2 cities across the nation. We look forward to building a futuristic work model that enhances the lives of people through the use of our ‘empowering remote working – flex spaces’ product.”
Arjun Varadraj, Venture Partner, ah! Ventures says “With the current pandemic changing the whole business scenario, companies are looking at lesser investments in office infrastructure and shifting to coworking space. StyleWorks leverages on technology to offer flexibility and convenience to select coowrking spaces.” ”
Stylework has been a part of Newchip Accelerator, Texas (US) in July 2020 with a 100% Scholarship. The startup has also recently closed Strategic Alliances with TiE Global and is in conversation with several prospect communities to join hands with it to realise its future ready to work model. Stylework’s strengths include scalable technology, B2C application, B2B product, and advanced features of co-working aggregation. The start-up also offers multilocational & custom memberships involving multiple brands which any single coworking brand does not offer. It will soon be hosting high-definition virtual tours on its application.” ”