ABL Workspaces
Offering co-working space where professionals from all walks of life come to work under one roof with meeting rooms, comfortable workstations, networking opportunities and, needless to say, snacks and drinks.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor | €0.0 | round | |
* | $20.0m | Series A | |
| Total Funding | 000k | ||
ABL Workspaces Private Limited operates within the competitive real estate tech sector, providing managed co-working spaces across India's Delhi-NCR region. The company was incorporated on December 19, 2017, by the husband-and-wife duo, Ankur and Akshita Gupta. Ankur Gupta's background as a builder in the real estate sector informed the company's inception; facing a market slowdown, he identified the high-potential segment of co-working spaces in India. Akshita Gupta, a commerce graduate and the company's CEO, brought her business acumen to the venture, which started by utilizing a property the couple already owned in Green Park, New Delhi.
The company's business model is multifaceted, operating on lease, revenue-sharing, and profit-sharing models for its properties, which it does not own outright. Revenue is generated by offering a variety of flexible workspace solutions with monthly seat pricing ranging from approximately ₹6,000 to ₹16,000. ABL Workspaces caters to a diverse clientele, from startups and freelancers to established corporations, with clients including notable brands like Zomato, Livspace, Kotak Bank, and Bira. The service portfolio is comprehensive, featuring hot desks, dedicated desks, private offices, and larger office suites. These offerings are supported by a suite of amenities such as high-speed internet, meeting rooms, pantry services, and reception. A key differentiator is the additional support services provided, including a concierge desk and assistance with administrative tasks like company registration and GST, which is particularly beneficial for emerging startups.
Financially, ABL Workspaces has demonstrated significant growth, securing a total of $4.2 million in funding over six rounds. A key milestone was the Series A funding round on November 3, 2021, which raised $2.01 million, led by the Canada-based firm Ethik Inc. This capital was earmarked for aggressive expansion, with the goal of increasing from 2,470 seats to 15,000 by 2023, alongside team and technology development. As of March 31, 2023, the company reported annual revenue of ₹44.1L. The founders maintain the largest shareholding at 26.02%.
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