Smartworks Launches New Venture The company announces a capital infusion of $25 Mn in the new venture

Smartworks, an enterprise-focused managed office space provider, announced the launch of its new venture, Smartworks Technology Services.

It has also invested $25 Mn in the new venture, which aims to launch a building operating platform and workspace management SaaS product targeted at landlords and organizations globally, centred on new workplace management and experience models.

The workplace management SaaS product will integrate technology with flexibility, safety, privacy and security while prioritising employee health, well-being and productivity. The building operating platform will allow landlords to manage their office assets more efficiently and sustainably. The company has also announced the appointment of Anuj Nangpal as the chief executive officer to head this new venture. He will also serve as chief information officer, Smartworks, and will oversee digital transformation for business growth, said a statement.

With Smartworks Technology services' suite of solutions, companies can seamlessly manage their office space by improving speed, productivity and operational efficiencies. The offerings will enable enterprises to make faster and smarter data-based real estate decisions such as space allocation, optimisation, utilisation and transformation of their employees' overall office experience.

"Technology has been at the core of our managed offices since our inception and will now serve as a key enabler towards spearheading our enterprise-focused workspace solutions to the next level of growth. We are excited to step into new business horizons and offer these SaaS platforms to organisations globally to manage all their real estate needs. Built in-house for improved performance and efficiency, our 400-plus clients are already benefiting from these technology solutions. Additionally, these SaaS solutions have also been sold to external enterprise clients," said Neetish Sarda, founder of Smartworks.

"I am excited to join the Smartworks team and look forward to working closely with a talented team. As a leader in the managed office space, Smartworks has built a profitable business model that is redefining the future of work. Uniquely positioned to capitalize on the changing workspace dynamics, we aim to build on the company's existing strengths while identifying new opportunities for growth and innovation," said Anuj Nangpal, CEO, Smartworks Technology Services.

Smartworks has a footprint across 32-plus locations in nine cities (Delhi-NCR, Kolkata, Bengaluru, Mumbai, Hyderabad, Chennai and Pune) and caters to more than 400 organizations across Fortune 500 companies, large enterprises, SMEs and established unicorns/startups, added the statement.