Gurgaon-based CorporatEdge, a platform that provides serviced office infrastructure, has raised an undisclosed sum from SIDBI India Opportunities Fund, the venture investment arm of Small Industries Development Bank of India (SIDBI), a company statement said.
The company will use the funds to expand in over six cities across the country, SIDBI said in the statement.
“With this round of funding, we see ourselves grow into a national entity. We dream to be a global entity soon and this would be a major milestone in our journey,†Mona Shukla, founder and chief executive of the firm, said.
Formed in 2012 by Shukla, CorporatEdge, operated by CE Serviced Offices Pvt Limited, provides fully serviced offices, virtual offices, meeting rooms and co-working spaces for companies ranging from startups to multinational conglomerates in Delhi-NCR and Gurgaon.
The company currently has two operational serviced office offerings at premium locations in Gurgaon. CorporatEdge launched its first centre with 40 office suites and 178 workstations spread over 16,000 sq ft at DLF Cyber City in 2013. In April 2016, another premium offering was set up at CorporatEdge Horizon Centre, spread over 25,000 sq ft. and comprising 60 suites and 280 workstations at DLF Two Horizon, Gurgaon. The company currently claims to have a total of 500 operational desks and claims to have grown their capacity by 60% in the last quarter of 2017.
SIDBI has been making equity and debt investments in startups besides running the Rs 10,000 crore fund of funds, which has backed multiple venture capital funds investing in startups. Some of the investments it made last year include software-as-a-service startup FieldAssist, which was a debt fundraise, an equity deal into food-tech company Holachef, and ed-tech company Myly.