IndiQube raises $30M from promoters, WestBridge Capital

IndiQube, Flexible workspace provider has raised $30 million in funding from WestBridge Capital, and Ashish Gupta.

IndiQube was founded by Rishi Das and Meghna Agarwal in 2015. IndiQube is a flexible workspace provider that facilitates accessible, affordable, and personalized workspaces. Leveraging its in-house technology platform MiQube, IndiQube facilitates with-

a smart building experience,
fulfilling the evolving needs of thriving startups,
offshore development centers and large enterprises, pan-India.

Currently, IndiQube has over 4.5 million sq.ft of office space in more than 60 properties spread across eight cities.

The company has its clients including Myntra, Philips, Hitachi, Eli Lilly, Mahindra Logistics, Standard Chartered, Enphase, Allegis, Slice, Unacademy, upGrad, Ola, Cars24, Chargebee, Fivetran, MakeMyTrip, and many more.

IndiQube is planning to utilize the proceeds in many ways like:

to double its pan-India CRE footprint,
venture into Tier-II cities, and
ramp up technology integration.

EXECUTIVE OPINION:

“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,” said Rishi Das, Co-founder of IndiQube.

“Over the next two years, we plan to more than double our pan-India footprint to over 10 million sq ft, venture into more than 15 Tier-II cities, and further ramp up technology integration, creating a consistent experience for our clients,” he added.

“COVID19 has accelerated the adoption of flexible workspaces across the globe. We had an amazing year adding more than 100 clients to our portfolio with over 1.2 million sq ft in incremental signups,” said Meghna Agarwal, Co-founder, IndiQube.

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IndiQube raises $30M from promoters, WestBridge Capital

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