Smartworks to invest $25 million in tech subsidiary
Shared office space provider Smartworks will invest $25 million in a tech subsidiary which plans to offer software solutions to enterprises looking to opt for a hybrid work model post pandemic.
The company, founded by Calcutta-boy Neetish Sarda and Harsh Binani, has developed the software in-house to manage their own properties which offer shared office space to organisations.
It has also announced the appointment of Anuj Nangpal as the chief executive officer to head this new venture Smartworks Technology Services. He will also serve as chief information officer, Smartworks and will oversee digital transformation for business growth.
The new venture aims to launch a building operating platform and workspace management SaaS (software-as-a-service) product targeted at landlords and organisations globally, centered on new workplace management and experience models, it said.
Smartworks is one of India’s largest provider of flexible workspaces, with a footprint of 5 million square foot across 32 locations in 9 cities (Delhi-NCR, Calcutta, Bangalore, Mumbai, Hyderabad, Chennai and Pune) and caters to more than 400 organisations across Fortune 500 companies, large enterprises, SMEs and established unicorns/startups.
Neetish Sarda, founder Smartworks, said: “We are excited to step into new business horizons and offer these SaaS platforms to organisations globally.”