New Delhi, June 18 -- CLR Facility Services Pvt Ltd, a provider of facility management solutions, has secured investment from development finance institution British International Investment (BII) in a Series B round of funding as the company plans to expand its workforce and build training centres.
The Pune-based company said the British impact investor has committed $15 million (about Rs 125 crore) in the funding round to support its expansion plans that include building a larger workforce and training centres for vocational education.
The company intends to more than double its workforce to up to 50,000 employees over the next five to seven years and build vocational training centres for unskilled and semi-skilled workers in tier-2 cities over the next five years, CLR said in a statement. The company currently employs 20,000 blue-collar workers providing services including cleaning, engineering, and mechanical maintenance, and production support to corporate clients.
"This investment will empower us to create more opportunities for our workforce, drive innovation in facility management, and extend our impact across new markets," the company said.
CLR was established in 2002 by Gaurav Pathak and Gautam Pathak. It offers services like integrated facility management and infrastructure operations and maintenance projects. The company works with more than 160 clients, and has operations across nine states in India. It is also backed by IndiaNivesh Fund.
As per VCCEdge data, the company's operating revenue rose more than 18% to Rs 460 crore in the financial year 2023-24 from Rs 389 crore the previous year. Net profit rose to Rs 6.7 crore from Rs 5.8 crore.
Published by HT Digital Content Services with permission from VC Circle.