Tech-enabled flex space startup IndiQube aims to raise about $75 million in equity funding to acquire commercial assets in major cities and expand its portfolio.
The company had secured $30 million in funding during April 2022 for expansion, with participation from promoters, WestBridge Capital and angel investor Ashish Gupta, including a $17-million infusion by the promoters themselves. The company aims to expand its portfolio to 15 million square feet, more than doubling its current office space of 7 million sq ft across 85 properties in 12 cities.
IndiQube has also made an entry into tier-II cities and plans to enhance its presence in both tier-I and tier-II cities. The company is pursuing the acquisition of office properties alongside its existing lease model.
