Flex space startup Innov8 raises Rs 110 crore
Innov8 has raised Rs 110 crore by diluting 10% of its stake. The round was led by family offices, including those of Mankind Pharma, Gauri Khan, Rupa Group and Jagruti Dalmia.
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Together, these investors accounted for 55% of the total funds raised.
The fund raise was facilitated by InCredand was priced at a valuation of Rs 1000 crore.
Innov8 has recently announced that it plans to double its coworking centres in India to 100 in 2025. The capital raised will support growth opportunities such as acquisitions, technology upgrades, partnerships, and expansion into niche segments.
“The funds raised will accelerate our expansion plans, building on the strong growth and operating leverage we are already achieving,” said Rakesh Kumar, group chief financial officer, OYO.
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