Keppel Land injects $33.9m into Indian coworking startup Smartworks

Smartworks has 23 centres across nine cities.

Keppel Land has invested $33.9m (US$25m) in Indian coworking firm Smartworks, according to a press release.

Founded in 2016, Smartworks has 23 operational centres in nine cities with about 43,000 workstations spread over 2.3 million sqft, which can be retrofitted in just four to six weeks based on a client’s needs. It was also the first to utilise a humanoid robot for operational duties.

The company plans to grow to 20 million sqft and provide services to 200,000 professionals over the next five years.

Keppel Land CEO Tan Swee Yiow stated that the investment opens an opportunity for further collaboration under the property firm’s smart-serviced coworking platform KLOUD which currently has operations in Singapore, Vietnam and Myanmar.

The investment is not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation for the current financial year.