Innov8 Coworking, the first of its kind thought space in India which encourages community engagement of like-minded individuals from any space, has raised an undisclosed amount of funding. The funding came from Dheeraj Jain, Redcliffe Capital; Punit Soni, Ex CPO Flipkart, Ex Googler and Y Combinator. The startup aims to utilize the raised funding for its expansion. It is launching India’s one of the largest coworking space in Koramangala, Bangalore on 20th January & very soon in Mumbai.
While talking about the investment, Ritesh Malik, Cofounder, Innov8, said, “At Innov8, we have a single point focus of creating the most aspiring & thought led communities in the country for fostering entrepreneurship & businesses. Our experience in Delhi & Chandigarh have helped us understand what Indian coworkers precisely need. All that we’ve learnt from these campuses, we’re deploying in our new campuses. Y Combinator has helped us insanely on scaling of the size & communities leveraging technology. Having people like Punit & Dheeraj help us build the right kind of strategy for growth. These are the most hands on investors we’ve met.”
Founded by doctor-turned-investor Ritesh Malik, IIT alumnus Shailesh Gupta and Harvard University alumnus Sumit Ranka, Innov8 is a coworking centre, which invites founders working on the impactful ideas. Innov8 is not an accelerator or an incubator that takes equity in the startup. It rather works on a membership fee for the space.
The startup was one of the three Indian companies selected by Y Combinator, a famous Silicon Valley incubator, for its summer batch of 2016. The company, run by Guerrilla Infra Solutions Private Limited, has centres in Delhi and Chandigarh currently.
“Coworking is not about startups alone, it's for anyone who wants to build value, whether a business or an NGO or a student trying his hands at entrepreneurship. We at Innov8, have this intense focus on building world class designed offices & tech led communities for helping SMEs, freelancers & entrepreneurs achieve their zenith potential. Our intensity is to create offices in the heart of CBD's & make work much more enjoyable & productive,” Shailesh Gupta, Co-founder, Innov8 Coworking.
Just yesterday, Bengaluru-based chain of business centres and co-working spaces InstaOffice also announced that it has raised pre-series A investment in a round led by Globevestor. Angel investors like Zishaan Hayath (Co-founder of Toppr), Karan Chellani (Managing Partner at SQUE Capital), and Mohit Satyan (Director of DFM Foods and Chairman of Teamwork Arts) also participated in the round.
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