News: Coworking space ABL Workspaces secures angel funding

Funding & Investment

Coworking space ABL Workspaces secures angel funding

The funds will be utilized to strengthen its presence in the capital region and boost its plan to launch 15 new centres by June 202 and 50 centres by 2021.
Coworking space ABL Workspaces secures angel funding

Founded in December 2017 by couple entrepreneurs – Ankur Gupta, Co-founder and CEO & Akshita Gupta, Co-founder and CMO, ABL Workspaces is currently in 9 centres in Delhi NCR. As now it plans to further expand and launch more centres, it raises an undisclosed amount in an angel round from Great Point Capital LLC, Chicago, US. The funds will be utilised to strengthen their presence in the capital region and will be operational with 15 new centres by June 2020.

Apart from the capital infusion, Artiston Thermo Group and Cleartrip have also acquired space in their live centres in Gurgaon. At present, centres serve as workplaces for some of the upcoming start-ups and enterprises like Bira 91 Beverages, BulBul TV, Etsy, Lodha Group, Livspace, Truly madly, Petrofac and Cynesis. 

Akshita Gupta, ABL Workspaces, Co-founder and CMO shared that we have witnessed an immense growth in our business and clientele. Now the startup aims to become the giant player and has charted out plans to be live with 15000 seats and 50 centres in Delhi NCR.

“Coworking sector has become one of the most promising segments of the startup ecosystem and has attracted the attention of many leading investment firms across.” shared investor Gabriel Mengin, President, Great Point Capital LLC. 

India is the second-largest market for flexible workspace in the Asia Pacific region after China with over 1,000 co-working spaces. The cumulative area under coworking spaces in India currently stands at 6.9 million square feet, according to the real-estate consultancy JLL. The sector is rapidly growing in the country and encouraging its growth are not only the many emerging startups but also the growing trend of freelancing. Additionally, many MNCs and large organizations are also now using these coworking spaces. 

How ABL Workspaces banks on this huge demand of quality workspaces at premium locations and reaches its goal to become a giant player in the region is to look forward to. 

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Topics: Funding & Investment, Life @ Work

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