Innov8, a coworking brand under OYO’s portfolio, has revealed plans to secure Rs 100 crore in primary funding. The company aims to achieve this at a valuation of Rs 1,200 crore. This capital infusion is intended to fuel its ambitious growth strategy and strengthen its market position in India's coworking industry.

 Expansion Plans for 2025
The startup is gearing up to double its coworking centers in India, aiming to operate 100 centers by 2025. This expansion will be driven by both organic and inorganic growth strategies. The funds will be allocated to acquiring new properties, upgrading technology, forming strategic partnerships, and exploring niche market segments.

 Focus on Key Metro Cities
Rather than venturing into new regions, Innov8 plans to deepen its presence in Tier 1 cities. These cities include Delhi, Gurgaon, Noida, Mumbai, Navi Mumbai, Pune, Chennai, Bangalore, Ahmedabad, and Hyderabad. The brand currently operates over 30 coworking centers across these locations and aims to strengthen its footprint within these markets.

 Future Real Estate Goals
Innov8 has ambitious plans to add 4 million square feet of managed office space across India within the next three years. This move is expected to cater to the increasing demand for flexible office spaces in major metropolitan areas.

 Strong Occupancy and Clientele
The coworking operator boasts an impressive occupancy rate of over 90% across its centers. It serves a diverse client base that includes prominent brands such as Swiggy, Tata Digital, Apollo24/7, Paytm, Razorpay, IndusInd Bank, Pepsico, Oppo, Lenskart.com, Nykaa, Big Basket, OLA, and PhonePe. This robust client portfolio underscores the company’s reliability and market presence.

 Background and Acquisition
Founded in 2015, Innov8 has grown into a key player in India’s coworking sector. In 2019, OYO acquired Innov8 for a reported $30 million, marking its entry into the commercial real estate market under the OYO Workspaces brand. Since then, Innov8 has continued to expand and solidify its position as a leading coworking provider in the country.

By focusing on expansion, technology, and strategic partnerships, Innov8 is poised to redefine coworking spaces in India and cater to the evolving needs of businesses.