Coworking Startup Table Space Secures $300 Mn Funding From Hill House Capital

Coworking space provider Table Space has reportedly secured nearly $300 Mn from private equity fund Hill House Capital to expand its operations across India. 

Inc42 reached out to Table Space regarding the development; however, we did not receive responses at the time of filing the story. 

The deal was closed in October this year; however, funding will be received in two tranches.

Founded in 2017 by Amit Banerji, Table Space offers customised coworking spaces to companies across India. It is presently offering services to over 150 clients such as Dell, Fujitsu, AMD, EY, GKN Aerospace, Shell, JCI and Analog Devices, among others, according to its LinkedIn profile. 

Reportedly, the startup looks to expand its footprint to 8 Mn sq ft by December 2023. In the past few months, it has leased more than 1.2 Mn sq ft of grade-A commercial space projects in various Indian cities such as Pune, Bengaluru, Gurugram, Noida and Mumbai.

In August, reportedly, the startup expanded its footprint to over 5 Mn sq ft, which can accommodate between 45K and 50K people at once. The reports further shared that the startup leased 1.2 Mn sq feet in the past six months. 

In India’s coworking space, it competes with the likes of Innov8, WeWork India, Awfis Space Solutions and 91Springboard, among others.

According to a report, the country’s coworking space market was anticipated to reach 10 Mn sq ft between 2014 and 2020. At present, the country has quite big coworking offices spanning approximately 50,000 sq ft as compared to the global average of 7,000 sq ft.

The industry is buzzing with an array of business developments. Today, Ofis Square reportedly announced that it forayed into the Delhi-NCR region by opening a coworking space in Noida.  

Four days back, coworking space provider 91Springboard was reported to have set up a 300-desk coworking space in Gurugram.

Meanwhile, coworking space startup iSprout closed its $4 Mn Pre-Series A funding round in March this year. Besides, it is further looking to raise a Series A funding round this year.