Gurgaon based co-working space provider, GoWork has now raised $53 Million in the debt funding round to scale its business in the country as competition in the market. The funding was done by the BlackRock Private Credit Team and CLSA Capital Partners Special Situations Group.
The startup will now be going to use the funds to expand its accommodation capacity to 25000 people up from 12000 currently.
Sudeep Singh, CEO of GoWork revealed that the startup would use the fresh capital, which will even flow for the next two years, to expand its footprints in the country. GoWork even plans to establish 50 centers across some of the major cities by the end of 2025.
GoWork, a coworking space provider startup was founded by the Sanjeev, Sudeep Singh, and Nimit Mahajan in the year 2017. It is among the largest co-working space in the world that aims to craft a collaborative workspace across the globe to help investors, accelerators, entrepreneurs, among others.
“GoWork is taking the brick and mortar aspect of the co-working concept further, as well as consistent measures to enable young businesses to reach their highest potential. We look forward to GoWork offering optimal operational efficiency for all start-ups as well as corporates,” Neeraj Seth, BlackRock’s head of Asian Credit, said.