Table Space, a flexible office operator in India, has raised around $300 million in fresh funding as it looks to expand its operations across the country, per a report by The Economic Times.
The corpus will be pumped in by global private equity (PE) firm Hillhouse Capital in two tranches, the report stated, quoting sources.
The company, which caters to changing workspace requirements of corporates, currently manages space worth 5 million square feet in cities such as Mumbai, Hyderabad, and Pune, besides its headquarters, Bengaluru. By the end of next year, the startup reportedly has plans to ramp up the area it manages to 8 million square feet, thereby keeping the efficiency and functionality of any workspace in mind.
The funding comes at a time when people have resumed work fully, with the COVID-19 pandemic easing off.
Table Space has leased over 1.2 million square feet for projects such as 1 Shobha in Bengaluru, Gigaplex in Navi Mumbai, and DLF Cyber City Building 10 in Gurguram, among others.
Headquartered in China, Hillhouse also invests in the international market such as North America and Europe and taps sectors including technology, media and telecom, healthcare, consumer and retail, and corporate services.
Earlier this year, the PE firm made headlines when it made the first close of its carbon-neutral fund to back the world’s net-zero emission goal estimated to cost $1-2 trillion of additional investments per year.