BENGALURU: Flexible office operator Go-Work is in the process of raising $200 million (about?1,375 crore) from private equity funds. The Gurugram-based company plans to use the funds to expand its presence in major cities across the country by opening 50 centres. At present, it runs two co-working spaces in Gurugram spread over 8 lakh square feet, with a capacity of 12,000 seats. “We are looking at scaling up the business further by adding a minimum of one lakh square feet of co-working space,” said Sudeep Singh, cofounder, . The company is in talks with international institutional players to raise funds, Singh said without divulging any names. GoWork plans to enter newer cities such as Mumbai, Bengaluru and Hyderabad, apart from tapping into tier-II and -III cities, through joint ventures as well as company-owned model. Most of the operational flexible spaces in the country are under rental model, said Singh. Bigger players in the segment include , and . Recently, Amsterdam founded Spaces launched in Bengaluru with two new coworking sites, spread over a total area of 68,200 sq ft and offering seating capacity of 900. CoWrks has signed deals for 400,000 square feet of office space across Mumbai, Delhi and Bengaluru to expand its presence in the country. According to real estate services firm , co-working firms leased 19 lakh sq ft of office space across India in January-June 2018, up from 6.4 lakh sq ft in the year-ago period. In 2017, co-working spaces accounted for 5% of the total office space leased in the country.
CoWrks is in talks with private equity funds seeking to raise $200 million . The co-workspace provider, which currently operates 50 centres with capacity for 50 , plans to use the funds to expand across major cities in Hyderabad , and aims to open 50 new centres.