CorporatEdge, a leading provider of premium flexible workspaces, has raised INR 100 Crore from Carpediem Capital, a leading mid-market private equity fund that invests growth equity in category leaders best poised to capitalize from India's growth story.
Overall, CorporatEdge plans to deploy INR 350 Crore (including this INR 100 Crore equity infusion). The company shall strategically utilize the funds along with internal accruals to drive expansion across the key markets in India and the Middle East, establishing and consolidating its leadership position in the premium flexible workspace segment. CorporatEdge grew at around 300% over the past three years and historically has grown at 30% CAGR since inception, setting new benchmarks in the industry.
Expansion and Growth Strategy
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.
In 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., representing a10x growth in its overall workspace portfolio.
In the immediate term, the company is gearing up to unveil two flagship Centres in the next quarter at World Trade Center (WTC) Nauroji Nagar, New Delhi, and Godrej Golf Course Road, Gurugram. Spanning 50,000 sq. ft. each, these state-of-the-art facilities are set to transform the serviced office landscape in the NCR region, designed to cater to the evolving needs of modern professionals, seamlessly integrating workspace functionality with lifestyle-driven amenities for an unparalleled work experience.
As part of the funding, Carpediem Capital joins CorporatEdge as a strategic growth partner, bringing industry expertise and operational support to accelerate the company’s growth.
Commenting on the investment, Monaah M Shuklla, Founder & CEO of CorporatEdge, said, “This investment is testament to the success of our unique hospitality-infused workspace model. At CorporatEdge, we don’t just provide offices; we curate work environments with a soul, designed to enhance productivity and well-being. Our journey in pioneering premium workspaces has naturally evolved into what we now call ‘Offitel’, a modern work environment that seamlessly integrates productivity with comfort, efficiency with luxury, and functionality with personalized service. This evolution reflects our commitment to blending premium office infrastructure with world-class hospitality. The capital infusion by Carpediem Capital further fuels our ambition to revolutionize workspaces and establish Offitel as the gold standard for businesses seeking premium office experiences.”
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. Our focus is on creating a premium, scalable, profitable and tech-driven workspace ecosystem that caters to the evolving demands of businesses. With Carpediem’s expertise, we are well-positioned to optimize market entry strategies, enhance operational efficiencies, and build a resilient portfolio in India.”
Speaking about the investment, Arvind Nair, Chairman at Carpediem Capital, said, “I'm pleased to share that we're partnering with CorporatEdge for their next phase of growth. They have established themselves as a premium flexible workspace operator with a strong leadership team that brings extensive experience in hospitality and commercial real estate. We're confident in CorporatEdge's ability to continue raising industry standards, given their exceptional track record over the past decade. We look forward to supporting them in managing over 1.5 million square feet of space in the next 4-5 years."
Maple Capital Advisors were the exclusive financial advisors on the fund raise, and Antares Legal provided legal advisory support for the transaction.
Source : Press Release
