Smartworks plans to invest $25 mn in its new venture, Smartworks Technology Services.
The new venture aims to launch a Building Operating Platform and Workspace Management SaaS product targeted at landlords and organizations globally, centered on new workplace management and experience models.
The offerings will enable enterprises to make faster and smarter data-based real estate decisions such as space allocation, optimisation and utilization, and transformation of their employees’ overall office experience.
“Technology has been at the core of our managed offices since our inception and will now serve as a key enabler towards spearheading our enterprise-focused workspace solutions to the next level of growth. Built in-house for improved performance and efficiency, our 400+ clients are already benefiting from these technology solutions. Additionally, these SaaS solutions have also been sold to external enterprise clients,” said Neetish Sarda, Founder Smartworks.
The firm has appointed Anuj Nangpal as CEO, an industry veteran. He will also serve as Chief Information Officer, Smartworks and will oversee digital transformation for business growth. Anuj joins Smartworks Technology Services from a $ 100 mn global fund investing in Proptech – JLL Spark and has over two decades of experience in real estate technology, venture capital, corporate strategy and mergers & acquisitions.
“Smartworks has built a profitable business model that is redefining the future of work. Uniquely positioned to capitalize on the changing workspace dynamics, we aim to build on the company’s existing strengths while identifying new opportunities for growth and innovation,” said Nangpal.
Smartworks has also elevated Nitiraj Shekhawat, Vice-President, Technology, to the CTO of Smartworks Technology Services in addition to his existing responsibilities.
The company also plans to hire over 100 employees in the next two years.
Smartworks is India’s largest provider of flexible workspaces, with a footprint of approx. 5 million sq. ft. across over 32 locations in 9 cities across Delhi-NCR, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai and Pune) and caters to more than 400 organisations across Fortune 500 companies.