Innov8 Co-working, India's collaborative workspace startup has announced operations of its four new centers by the end of November’18. Two of which will be operational by 9th November’18. Further strengthening its foothold in Delhi/NCR and Mumbai, new centers will serve 1600 new coworkers with the total area of 90,000 sq. ft. New centers have already achieved pre-committed clientele like Vistaprint (Cimpress N.V.), Nokia Corporation, BenQ India etc.
Announcing the launch of new centers, Dr. Ritesh Malik, Founder and CEO Innov8 said, “We endeavor to assist professionals with the best in class services and amenities across the locations. We profoundly focus on what we are offering without undermining on the quality of the services. In past three years, we have managed to replicate the service quality across all the centers and have provided a warm working atmosphere to all the coworkers. While we are strengthening our foothold in the existing cities, we are also looking forward to expanding in new geographies in next few months. We expanded our reach by adding seven new centers in last one year and aim to add 10 more in the next calendar year. Promoting the idea of innovation, Innov8 is building a community of new entrepreneurs and professionals where they, apart from concentrating on their product, can expand their networking cords.”
With a notable increase in startups and corporates housing their offices in two of the most prominent locations- Delhi and Mumbai, the demand for co-working space has increased in past few years. A recent report by CBRE stated that Delhi-NCR and Mumbai are amongst the most preferred office destinations after Bangalore.
Diversifying the gamut of companies and individuals working at Innov8, company is creating a huge community of entrepreneurs, MSME, and large enterprises, startups and freelancers at its centers. Interestingly, corporates constitute 75% of Innov8’s business and the number is expected to increase with the addition of more centers. The company is investing aggressively in its expansion to current and new markets; and aim to be live with 23 centers by the end of 2019.
Earlier last month, the startup announced its Pre-Series A financial round of $4 mn, which will further accelerate company’s growth momentum. The company is also backed by some of India's top angel investors including Paytm founder Vijay Shekhar Sharma, Google India head Rajan Anandan, Anand Chandrasekaran, global director of platform and product partnerships for Facebook, and Girish Mathrubootham, chief executive of Freshworks, among others. Foreseeing the future growth, Innov8 envisions becoming a brand with national presence having additional focus on health and recreational facilities within their venture.
Incubated by Y Combinator, Innov8 Coworking started its operations in October 2015 with one and its first center in Connaught Place, Delhi. While today, the company is serving 4000 coworkers across four locations in Delhi, Mumbai, Chandigarh and Bangalore. Innov8 has on boarded more than 190 companies as its members, which includes large corporates such as RBL, and emerging enterprises such as Swiggy, Vice Media as its clients. Currently, Innov8 enjoys 95% occupancy across all its centers.