India, April 22 -- Coworking space provider Smartworks has raised nearly $4 Mn (about INR 33 Cr) from its existing backer, Singapore-based Keppel Land.

As per the startup's regulatory filing, it issued cumulative convertible preference shares to real estate giant Keppel Land for INR 269 per share.

The funding could likely be a part of a larger funding round. In May last year, Smartworkscofounder Neetish Sarda said that the startup was looking to raise $70 Mn to $90 Mn.

"We might raise equity capital anywhere between $70 Mn and $90 Mn. We need growth capital for FY25 and beyond," Sarda told news agency PTI.

A detailed questionnaire sent to Smartworks on the funding didn't elicit any response till the time of publishing this story.

The...