Co-working company Innov8 has announced plans to invest over Rs 100 crore in collaboration with its partners, aiming to add 8,000 seats across key Indian cities by the fiscal year 2023-24. This expansion will encompass approximately 3 lakh square feet of co-working space and bring a total of 15 new centers to Delhi NCR, Mumbai, Pune, Bengaluru, and Chennai. The company’s expansion strategy includes the addition of five new centers in major cities like Mumbai, Pune, Gurugram, and Chennai early in the fiscal year 2023-24, with a further goal of adding 15 more centers by the end of the year. This ambitious expansion plan would result in a total of 20 new centers being added in the coming fiscal year.
Dr. Ritesh Malik, the founder of Innov8, highlighted the company’s remarkable growth, with a 30 percent increase in the number of centers during the fiscal year 2022-23. This growth is attributed to the company’s strategic shift towards a “5 minutes to a metro station” approach, which has nearly doubled the number of centers nationwide.
Established in 2015, Innov8 currently operates in nine Indian cities, including Delhi, Gurugram, Mumbai, Pune, Chennai, Bangalore, Ahmedabad, Hyderabad, and Indore, with over 20 centers that serve more than 8,000 employees.
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