WeWork India, the Indian co-working and managed space giant announced that it raised $100 Million from WeWork Global on Friday. A fully-owned subsidiary of Bengaluru-based estate developer Embassy Group, WeWork India intends to utilize these funds to accelerate its growth across India. Earlier focused on increasing the number of desks, the company will now emphasize on profitability.

WeWork India’s operations began in the country when Embassy Group that currently holds 100 percent rights over the Indian counterpart entered into a partnership with WeWork global. “India is one of the key markets for WeWork. The fresh round of capital from our long-term partners at WeWork global represents a vote of confidence in our strategy and in India operation. Sandeep Mathrani, global CEO of WeWork will also have a board seat in the India operation," said Karan Virwani, CEO, WeWork India.

Although the Global pandemic has acted as a dampener for the company’s otherwise successful run in the Indian co-working market, WeWork India believes that ‘space as a service’ still holds immense potential in India. The fresh round of funding will help the company build on this opportunity. "WeWork India's financial performance has shown consistent growth, and with the fundamentals in place at a building level backed by the expertise of the Embassy Group, we believe the WeWork India business has the ability to be the growth vehicle and provide our members an exceptional experience," said Sandeep Mathrani, CEO, WeWork Global.

Headquartered in Bangalore, the company currently operates 60.000 desks in 34 locations spread across Delhi, Mumbai, Hyderabad, Noida, Pune and Bangalore.