When confidence of investors are restored in the Indian startup ecosystem, post a sluggish last year real-estate sector is also bagging a lot of investment from both individual and institutional investors.
Within a few months of angel funding, Innov8 co-working spaces’ parent company Guerrilla Infra Solutions is out in the market to raise another round of about Rs.100 crore ($15 million) in series-A funds, according to the financial daily The Economic Times.
In February, Delhi-based office space provider Innov8 has raised an undisclosed amount of angel funding led by LetsVenture, Venture Catalysts and independent angel investors like Rajan Anandan (Google), S. Somasegar (MD, Madrona Venture Group), Vijay Shekhar Sharma (founder, Paytm), Girish Mathrubootham (founder and CEO, Freshdesk), Kunal Shah (co-founder, FreeCharge), and others.
The ET report stated that the co-working space brand has mandated boutique investment bank Wodehouse Capital to scout for new investors for its latest round.
Co-working spaces are having a good time in India this year. After Awfis secured mega round of $20 million, BHIVE Workspace raised $1.2 million in led by Blume Ventures.
So far, co-working spaces in India have secured about $33.8 million across 16 deals, as per venture capital intelligence database Tracxn. Tracxn lists a total of 139 co-working spaces, out of which four have already shut shops.
Awfis funding round was the biggest financing in the co-working space in India. This round hailed as bigger as overall capital secured by the top 10 highest funded co-working startups in India – combined.
Innov8 competes with over dozen of platforms including 91springboard, Awfis, Stirring Minds, BHIVE, AltF Co-working, Co. Lab. Orate among others.