CorporatEdge raises Rs 100 cr equity fund from Carpediem Capital for expansion

CorporatEdge, which provides flexible workspaces to companies, has raised Rs 100 crore from private equity firm Carpediem Capital for expansion of its business.

In a statement on Thursday, CorporatEdge said the company plans to deploy Rs 350 crore, which includes Rs 100 crore equity infusion.

The company will use the funds along with internal accruals to drive expansion across the key markets in India and the Middle East.

In India, the company plans to strengthen its presence in Delhi-NCR and Bengaluru while strategically expanding into new markets such as Mumbai, Pune, Hyderabad, Chennai, and Ahmedabad.

During the second phase of growth, CorporatEdge will extend its presence into tier 2 cities such as Lucknow, Chandigarh, and Kolkata.

''By FY30, the company targets operating 50 centres across 10 cities, with a total footprint of over 1.5 million sq ft,'' it said.

In the immediate term, the company will soon start two centres, spanning 50,000 square feet each, in the next quarter at World Trade Center (WTC) Nauroji Nagar, New Delhi, and Godrej Golf Course Road, Gurugram.

As part of the funding, Carpediem Capital joins CorporatEdge as a strategic growth partner.

Monaah M Shuklla, Founder & CEO of CorporatEdge, said, ''The capital infusion by Carpediem Capital further fuels our ambition to revolutionise workspaces''.

Aashish S Shukla, Managing Director of CorporatEdge, further added, ''This funding marks a significant milestone in our expansion strategy, allowing us to strengthen our presence in high-growth markets while ensuring operational excellence.'' CorporatEdge has centres across six locations totalling 1,67,000 square feet (including one in Dubai), servicing MNCs, enterprises, startups, and more.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)