The co-working space provider plans to utilize the funds to expand its operations in tier-1 and 2 cities to at least 35-40 centres.
The three-year-old Noida-based company is also eyeing a twofold increase in revenue for the fiscal to Rs 320 crore.
Founded in April 2016, Smartworks has presence at 23 locations in 9 cities with a total footprint of 2.8 million sq ft, the company said in a statement.
The company hopes to raise investment worth $30 million for expansion. Going forward, 10 to 15 percent of its new supply would be located in malls, warehouses and institutions.
Since its inception in April 2016, Smartworks has been aggressively expanding its footprint across key cities in India due to the growing demand for agile workspaces.
With opening of this new facility, Smartworks has 20 centres with total seating capacity of 33,000 and 2 million sq ft area, the company said in a statement.
Plans expanding footprint to at least 10 million sq ft over the next three to five years
Founded in April 2016, Smartworks has 15 operational facilities across nine cities covering 16,000 seating capacity. It will soon add three more centres, taking the total number of centres to 18 with a capacity of 20,000 seats.
The company has become profitable with its revenue rising 15 percent month-on-month, Smartworks founder Neetish Sarda said.
With the launch, the total number of centers by the company total up to 15 across nine cities