Smartworks, which renders organised office space, will infuse $25 million (about Rs 190 crore) in its new tech venture that will provide services associated with workspace management as part of its program to develop business.

The new company 'Smartworks Technology Services' will be a 100% subsidiary of Smartworks, and it strives to roll out a building operating platform and workspace management SaaS product.

Launched in April 2016, Smartworks presently has a portfolio of approximately 5.3 million sq ft of office area across over 32 sites in nine main cities. Smartworks has selected Anuj Nangpal as the Chief Executive Officer (CEO) to lead this new enterprise. Anuj joins Smartworks Technology Services from a $100 million global fund infusing in Proptech -- JLL Spark.

They will pump in $25 million to develop this new business, Smartworks founder Neetish Sarda told the media. The firm has already acquired 12 clients in this new venture, Harsh Binani, co-founder, Smartworks, told the media. Explaining the new venture, Sarda said that the demand for flexible workspace has increased rapidly since the Covid-19 pandemic.

Technology has been at the core of their managed offices since their inception and will now operate as a key enabler towards spearheading our enterprise-focused workspace solutions to the next level of growth, he added. Sarda said that the firm will provide these SaaS platforms to organisations globally to handle all their real estate requirements.

Built in-house for improved performance and efficiency, their 400+ clients are already profiting from these technology solutions. Also, these SaaS solutions have been sold to external enterprise clients. The workplace management SaaS product will combine technology with safety, flexibility, privacy and security while prioritising employee health, well-being and productivity.

The building operating platform will permit landlords to handle their office assets more efficiently and sustainably. With Smartworks Technology services' suite of solutions, firms can seamlessly handle their office space by enhancing speed, productivity and working efficiencies.

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