Home / News / Innov8 gets $4 million funding, to open more centres, Technology News, ETtech

Innov8 gets $4 million funding, to open more centres, Technology News, ETtech

Innov8 gets $4 million funding, to open more centresGuerrilla Infra Solutions, which owns and operates co-working space startup Innov8, has raised $4 million (about Rs 30 crore) in its latest round of equity financing, which has been led by Credence Family Office.

The latest round of funding will be used by the company, which is also a Y Combinator alum, to open more centres and increase the number of seats on offer to 8,000 over the next six months, the Delhi-based company said in a statement.

“We have almost 95% occupancy across all our centres, which is one of the foremost markers of our success. With the domain expertise our investors bring on-board, we look forward to leveraging their support, as we build a leading platform offering collaborative space for growth and innovation in India,” Ritesh Malik, CEO, Innov8, said.

The developments come at a time when the still-nascent co-working space in India continues to garner attention from investors.

In July, Awfis Space Solutions, seen as India’s largest home-grown co-working company, announced that it had raised $20 million in its Series C round of funding, led by its existing set of investors, which includes, marquee venture capital firm Sequoia Capital and The Three Sisters, the family office of Yes Bank CEO Rana Kapoor.

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