Innov8

Funding will be used for acquisitions, technology and partnerships, says startup

OYO-owned Innov8, which provides flexible office spaces, has raised Rs 110 crore from investors including family office of Gauri Khan, to expand business and future growth. Innov8 has successfully concluded Rs 110 crore primary funding round. It diluted 10 per cent to raise this fund, the company said. The issue was oversubscribed by 2.7 times. The fund was raised at a valuation of Rs 1,000 crore. The round was led by prominent family offices, including those of Mankind Pharma, Gauri Khan, Rupa Group and Jagruti Dalmia. Together, these investors accounted for 55 per cent of the total funds raised. Innov8 has recently announced plans to double its coworking centers in India to 100 in 2025. The capital raised will support strategic inorganic growth opportunities such as acquisitions, technology upgrades, partnerships, and expansion into niche segments. "The funds raised will empower Innov8 to accelerate our expansion plans, building on the strong growth and operating leverage we a

Paytm founder Vijay Shekhar Sharma and co-working space provider Innov8 CEO Ritesh Malik have invested in eight-month-old company Supersourcing

What do you do when your business model is based on professionals sharing workspaces at a time when coronavirus crisis is snowballing?

'We will differentiate on location, design and community', says Malik