After the successful launch of its first location - WeWork Galaxy - in Bengaluru in July 2017, WeWork, the global network of collaborative spaces, has expanded to 9 locations across three key cities in India, i.e., Delhi, Mumbai and Bangalore, and is now looking to continue its growth trajectory.
WeWork is accelerating the future of work by providing a platform for creators to work in a collaborative space, connect, build a community while immersing themselves in a range of services to help them make a life, not just a living.
WeWork entered India through a joint venture with Embassy Group in July 2017. By leveraging on Embassy’s extensive land bank across the country, along with driving WeWork’s technology and global experience in design, the brand has grown from just 2,200 members in its first space, WeWork Galaxy, to over 10,000 members and 12,000 desks across its 9 locations in India. By the end of 2018, it aims to open 4 more locations in Delhi, 4 in Bangalore and 6 in Mumbai which will raise the number of locations up to 20 that will accommodate for 35,000 members.
“India is home to 65% of the population being under the age of 35 years who are seeking greater social engagement and looking to be a part of a large community of like-minded people. Our aim is to double our locations by the end of 2018 and to grow our community while providing them access to our global community and comforts of beautifully designed spaces. This is only just the beginning of our path towards the future of work,” said Karan Virwani, Chief WeWork Officer at the company.
WeWork India plans to further expand to Pune, Chennai, and Hyderabad and hire 150 people across sales, community and design and development by next year.
Other players in the co-working segment in India include Awfis, BHIVE Workplace, Innov8, 91springboard, IndiQube, Creator’s Gurukul, and myHQ, among others. Last week, Awfis has raised an additional $20 million series C funding from marquee investors Sequoia India and Innoven Capital and The Three Sisters: Institutional office TTS:IO led by Radha Kapoor Khanna while myHQ has raised a funding of $5,00K in a round led by Anupam Mittal (Founder of People Group - Shaadi.com). Recently, Bengaluru-based IndiQube also secured $15 million (Rs 100 Cr) equity funding in a round led by WestBridge Capital.