Coworking startup Innov8 in talks to raise Rs 100 crore to boost expansion

Innov8, the coworking startup, is in talks with investors to raise Rs 100 crore in a primary funding round. 

The company said that it is seeking to close the funding at a valuation of Rs 1200 crore to support its expansion plans. Innov8 has recently announced that it plans to double its coworking centres 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,” wrote Innov8 in a statement. 

The fundraising efforts are being led by InCred.

Innov8 is focused on deepening its presence in existing Tier 1 cities, including Delhi, Gurgaon, Noida, Mumbai, Navi Mumbai, Pune, Chennai, Bangalore, Ahmedabad, and Hyderabad, optimising operations in these locations rather than expanding into new regions. 

Innov8 plans to add 4 million square feet of managed office space in India in the coming three years. 

Founded in 2015 by Ritesh Malik, Innov8 is currently spread across nine cities—Delhi, Gurgaon, Mumbai, Pune, Chennai, Bangalore, Ahmedabad, Hyderabad, and Indore—with over 30 centres hosting over 8,000 employees of brands like Swiggy, IndusInd Bank, Jio Saavn, PhonePe, and Tata Digital.