Innov8 to Raise Rs 100 cr to Boost Expansion Plan

New Delhi, November 25, 2024: Innov8 is in talks with potential investors to raise Rs 100 cr in a primary funding round. The company is seeking to close the funding at a valuation of Rs 1200 cr to support its expansion plans, says a press release issued by the company. Innov8 has recently announced that it plans to double its coworking centers 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. 

The fund-raising 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 mn square feet of managed office space in India in the coming three years. 

Innov8 is currently spread across nine cities—Delhi, Gurgaon, Mumbai, Pune, Chennai, Bangalore, Ahmedabad, Hyderabad, and Indore—with over 30 centers.