Innov8 Eyes Rs 100 Crore for Rapid Expansion

Coworking startup Innov8, acquired by OYO, plans to raise Rs 100 crore. Raising funds to expand its coworking centers to 100 locations by 2025. The strategy involves enhancing presence in Tier 1 cities and targeting Rs 1,200 crore in valuation for strategic partnerships and growth.

Coworking startup Innov8 has set its sights on a major expansion, planning to raise Rs 100 crore in a primary funding round. The company, under OYO's acquisition, is in discussions with potential investors to achieve this goal.

Innov8 aims to close the funding round at a valuation of Rs 1,200 crore. The funding will fuel strategic growth through acquisitions, technology upgrades, partnerships, and entry into niche markets. InCred is leading the efforts to raise the capital, as shared by Innov8.

The startup plans to double its coworking centers across India to reach 100 locations by 2025. It focuses on expanding its managed office spaces by 4 million square feet in existing Tier 1 cities, refining operations in Delhi, Mumbai, Chennai, and others. Current clients include major companies like Swiggy, Tata Digital, and Oppo.

(With inputs from agencies.)