This coworking SaaS based startup gets $2 million, valued at $20 million

The rise of the coworking and managed workspaces market in recent years has been greatly fueled by India's emergence as a corporate and startup hotspot. In this space, Coworking marketplace Stylework has received $2 million in its Series A1 round from investors like QI Ventures, We Founder Circle, and others, the company said in a statement. This valued the company at $20 million.

In the round, existing investor WFC along with iAngels Network, Sateeq Invest, some global HNIs, and others also participated. 

"The closing in of Series A1 has ignited the excitement of witnessing the growth cycle of the technological evolution of the flexible workspace marketplace in India. There is no doubt that the coworking spaces' membership architectures still need lots of bundling work. To scale it and significantly impact the coworking industry, in this amazing growing ecosystem in India, it needs our focused product's attention to detail and deep integrations with our multiple supply coworking brand partners, and we will be diligently working towards the same," said Khandelwal.

Gurgaon-based Stylework was founded by Sparsh Khandelwal in 2016. It currently operates in more than 80 cities. Stylework, a B2B SAAS marketplace model, has more than 2500 partnered co-working spaces on its platforms across India and is in partnership with over 250 all-category coworking & managed office operator brands for the same. 

QI Ventures’  CEO and founder, Ayan Chatterjee, said, “I believe that coworking is not just the future of work, but the future of how we live and thrive together. Excited times ahead to see how the coworking aggregation industry & now our portfolio brand, Stylework, unleash massive growth in Indian and potentially international markets."

The Stylework Corporate Product Suite helps businesses optimising office space expenditures, better allocate resources to employees for these flexible workspaces, boost productivity and effectiveness, and reduce costs for the present and the future. It does this with the help of hybrid billing mechanisms and additional analytical and predictive features. 

The company closed the financial year 2022-23 at over $9-10 million GMV and expects to have a GMV of around $30-35 million in the next financial year.

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