Innov8 Co-working raises USD 4 mn to double its seats to 8,000

Innov8 Co-working Thursday said it has raised USD 4 million fund (around Rs 30 crore) to expand its business and double its seating capacity to 8,000 by March next year.

Started in 2015, Innov8, which was also part of Silicon Valley incubator Y Combinator, has around 4,000 seats across 13 centres in Mumbai, Bengaluru, Delhi/NCR and Chandigarh.

It is backed by many big investors including Paytm founder Vijay Shekhar Sharma and Google India's Rajan Anandan, among others.

Gurugram-based Innov8 said in a statement that it "has raised USD 4 million in a pre-series A financing round, led by Credence Family Office."
Mitesh Shah, Co-founder & Managing Partner of Credence Family Office, said: "Co-working space is an exciting segment to be present in. Innov8 has been able to clearly establish its unique proposition with its best in class design and community culture at value conscious price to its consumers."