Stylework Nets INR 30 Cr To Scale Its Coworking Aggregation Play

SUMMARY

The funding was led by Equentis Angel Fund, with participation from Karekeba Ventures, Cogniphy AIF Fund and others

The newly raised capital will be deployed to amplify most AI-led aggregation systems that would be integrated across listing platforms

Stylework’s network has reached over 125 cities, where it sold more than 70,000 seats, maintained profitability and achieved INR 280 Cr in annualised GMV

India’s coworking sector is undergoing a strong surge as companies shift to hybrid and distributed work models. With enterprises seeking flexible, cost-efficient offices closer to talent hubs, demand for shared workspaces has expanded rapidly beyond metro cities.

This shift has opened a sizable growth opportunity for aggregators and operators alike. As per Mordor Intelligence, India’s coworking market is expected to grow from $2 Bn in 2025 to nearly $3 Bn by 2030 at a CAGR of 7%.

Tapping into the coworking space momentum, Gurugram-based Stylework has secured INR 30 Cr ($3.4 Mn) in a pre-Series B round led by Equentis Angel Fund at a pre-money valuation of INR 250 Cr.

The round also saw participation from Karekeba Ventures, Cogniphy AIF Fund as well as existing backers such as LetsVenture Fund and MoneyVyapaar.

The startup plans to deploy the fresh capital to strengthen its tech stack and expand across India and the Middle East.

Prior to this round, the startup had raised about $3 Mn from investors like Inflection Point Ventures, ah! Ventures, Sprint Vc, among others.

Founded in 2016 by Sparsh Khandelwal, Styleworks aggregates flexible workspaces through its online platform and offers services like coworking memberships, private offices and managed spaces. The startup’s platform now lists more than 4,000 coworking and managed offices across 125 cities, sourced from over 650 operators ranging from large brands like WeWork India, Awfis, Innov8, Springboard18, among others.

Khandelwal told Inc42 that the new funds will be utilised to scale the startup’s AI-led aggregation systems across listings and build ARBI solutions (air conditioning, raised flooring, blinds and interior) to streamline commercial office space visits.

The startup is also exploring acquisitions in India and the Middle East to accelerate growth and market share. Beyond India, the startup has already expanded to Australia.

“With this fundraise, we plan to deploy about 20–25% towards taking our aggregation tech into Southeast Asia and the Middle East over the next two to three quarters, followed by expanding into Europe through inorganic acquisitions before launching there,” the founder said.

Khandelwal said that the conversion rate and the hybrid ratios in Europe is much better for their kind of a model where coworking spaces, managed offices, hybrid ratios are favourable and the dollar returns are also better format.

Important to note that a significant driver of Stylework’s scale is its listings-led aggregation model, which provides its customers choice to a highly fragmented office space market.

By standardising discovery and pricing, Styleworks’ platform helps enterprises, SMEs and distributed teams evaluate and book spaces even in tier II & III cities, where visibility has traditionally been low. Till date, the startup claims to have served over 10,000 customers.

On the back of its growing client base, Stylework has also been strengthening its financial profile. As per the founder, it turned PAT positive in March and closed the previous fiscal year FY25 with an EBITDA of INR 2 Cr and PAT of INR 1 Cr.

Without disclosing its operating revenue for the fiscal, the startup claims to have clocked in a gross merchandise value (GMV) of INR 236 Cr in FY25. For FY26, Styleworks expects to clock INR 3 Cr to 4 Cr in PAT, net revenue of INR 45-50 Cr and about INR 400 Cr in GMV.