Co-working and working space provider ABL Workspaces has raised a sum of Rs 15 crore from Canada-based Ethik Inc in a Series A funding round, the company said in a statement.
The company is planning to use the funds to expand its seating capacities and centres across the capital. It also intends to develop the team and technology for significant functioning.
Founded in 2017 by Akshita and Ankur Gupta, ABL Workspace offers office space to its clients across segments, including new-age startups, independent working professionals, and mid-sized companies, the statement said.
"We look forward to expand our seating capacities to accommodate more businesses. The fresh capital will enable us to strengthen our team and technology more efficiently," said Gupta.
In the past six months, ABL Workspaces has registered a surge in its client base by 20 to 25% month-on-month. The startup serves brands such as Ariston Thermo (Racold), Kotak Bank, Netambit, Clovia, and Simba Beer among others, the statement said.
“We believe that co-working is a game-changer for the entrepreneurial community. The segment is promising and has attracted the attention of potential investors. ABL Workspaces offers cost-effective, premium, tech-enabled co-working spaces. We are glad to partner with the company and help them become one of the leading players in the region," said Deepak Goel, Founder, Ethik Inc.
Founded in 2021, Ethik Inc is a private Canadian corporation, and its aim is to invest in high-growth startups across the globe. It only focuses on companies that have the potential to create significant value, said the statement.
