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Innov8 Co-working Raises Angel Round From LetsVenture; Paytm, FreeCharge Founders & More

Investors include LetsVenture, Venture Catalysts and independent angel investors, Vijay Shekhar Sharma, Kunal Shah and Rajan Anandan among others. Y Combinator backed company, Innov8 plans to use the funds for further expansion in metros.

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India’s leading workspace brand, Innov8 Co-working, announced the closing of an angel round led by LestVentures, Venture Catalysts and independent angel investors like, Vijay Shekhar Sharma(Paytm), Rajan Anandan (Google), Kunal Shah(Freecharge/Snapdeal), Girish Mathrubhootham (Freshdesk), Punit Soni (Ex-Flipkart CPO), Anand Chandrasekeran (Facebook), Sunil Kalra (Via Projects), Utsav Somani (Angel List India), Vishal Gondal (GOQii), Vikram Limaye (IDFC Bank) and other investors. Cofounded by serial entrepreneurs and investors, Dr. Ritesh Malik and Shailesh Gupta, Innov8 provides shared workspaces, community and services to startups, freelancers, entrepreneurs and even divisions of large corporates.

Co-working as a culture in India is not even a decade old concept and therefore, the country is in a continuous process of exploring new use cases for it by various sectors.

“India is the 3rd largest country for startups but also has the most expensive real estate. Early stage start-ups in India struggle to find high quality, affordable office space. Innov8 solves this problem by providing for this and also building a very strong community element in their spaces.” said Rajan Anandan, angel investor and managing director of Google India.

Speaking on the announcement Shailesh Gupta, cofounder of Innov8 said, “We started Innov8 with an idea to provide beautifully designed, collaborative workspaces, community and services to our co-workers so that they can save their energies and focus on work. Today, we are a community of thousands of entrepreneurs and present in Delhi, Bangalore, and Chandigarh and are soon launching in Mumbai, Gurgaon.”

“More than the money when we were raising this round, our focus was to get the most supportive hands on investors who’ve been there and done that. We value the experience each of our investors get on board to build Innov8 into a world class workspace brand,” said Dr. Ritesh Malik cofounder of Innov8.

Speaking on the announcement Shanti Mohan, founder and CEO of LetsVenture said, “Innov8 offers these individuals a chance to become part of a thriving, collaborative community. The workshops, events, and interactions with mentors and industry experts are huge enablers in fostering innovation and learning.”

“What enticed us to invest in Innov8 is the high potential in the founding team, tech managed operations and their approach to build the most innovative co-working place in India by creating a valley like culture and a pan India community of startups," said Apoorv Sharma, cofounder Venture Catalysts.

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