Stylework raises Rs 4 crore in pre-Series A funding

NEW DELHI: Coworking aggregator platform Stylework has raised Rs 4 crore in a pre-Series A funding round led by Inflection Point Ventures to fund its expansion plans.

Based in the National Capital Region (NCR) centred on Delhi, Stylework offers flexible coworking space in over 800 locations across the country to some 120 corporates and 3,000 freelancers and startups. The company plans to increase seating capacity to 400,000 seats from 150,000 within a year.

“We work on asset-light models and don’t require large funds, as we don’t acquire assets. This timely infusion of cash will help us leverage the rise of the flexible and hybrid work model industry,” said Sparsh Khandelwal, founder and chief executive officer of Stylework.

While 70% of the company’s inventory is in Delhi NCR, the platform will now expand to Mumbai, Hyderabad, Pune, Bengaluru and Chennai.

Inflection Point Ventures said the Stylework investment is its fifth deal and that it is likely to invest Rs 155 crore this year across 60 startups.

“Stylework aims to unlock commercial coworking real estate by making it available in a flexible way. Such unique models are a result of the pandemic, which has forced a majority of the workforce to work from home,” said Inflection Point Ventures’ founder Vinay Bansal.