Innov8 plans to double coworking centers in 2025 to 100

2024-11-04 10:09:50 Business

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New Delhi, November 4, 2024: Innov8, India's leading coworking startup, has announced plans to double its coworking centers across the country in 2025. It is currently operating over 45 centers with a capacity of approximately 17000 seats across 10 major cities including Delhi, Gurgaon, Noida, Mumbai, Navi Mumbai, Pune, Chennai, Bangalore, Ahmedabad, and Hyderabad. Innov8 is now shifting towards bigger centers with the expected seat capacity expected to expand to over 50,000, a 3x increase, while the number of centers doubles.

Innov8 coworking spaces are tech-enabled workspaces with advanced audiovisual equipment and secure access systems to support seamless business operations. These are premium coworking spaces with uninterrupted connectivity, easy access, and proximity to key transit hubs such as metro stations, airports, and railway stations, all at an affordable price.

Emphasizing health and safety, Innov8 maintains strict hygiene protocols and regular sanitization. Sustainability is also a key focus; with eco-friendly practices such as energy-efficient lighting and waste management systems also being employed.

The demand for coworking spaces is growing in India. A report by private equity company Avendus says that India's workspace market is projected to reach 126 million square feet (msf) by 2028, up from 61 msf in 2023. The expansion aligns with changing market dynamics as more global capacity centers (GCC), startups, solopreneurs, food aggregators, SMEs, and large enterprises adopt coworking spaces to enhance employee productivity, foster collaboration, and optimising operational costs by scaling up or down as per business requirements.

Speaking on the development, Ritesh Malik, Founder of Innov8 said "Our decision to double the number of Innov8 centers is backed by the consistent increase in inquiries, higher occupancy rates, and the evolving needs of modern professionals. Our operational excellence and design efficiency allows us to offer competitive pricing to clients without compromising on quality while maintaining healthy margins and higher returns per square foot".

Pankhuri Sakhuja, Business Head of Innov8 added "Innov8 is focused on expanding its presence in areas where the need for flexible, collaborative workspaces is accelerating. Our solutions cater to diverse business needs with the support of dedicated teams, customized offerings, and robust technology integration. It ensures a seamless transition for any organization seeking growth and stability in a vibrant economic ecosystem".

Innov8 is a workspace provider for leading companies like Swiggy, Jiosaavn, Tata Digital, Apollo24/7, Paytm, Manipal global, Razorpay, IndusInd Bank, Whirlpool, BBC News, Pepsico, Blenheim Chalcot, Oppo, Snapdeal, Lenskart.com, Nykaa, Big Basket, OLA, Phonepe and many more.

Founded in 2015 by Dr. Ritesh Malik, Innov8 is currently spread across nine cities—Delhi, Gurgaon, Mumbai, Pune, Chennai, Bangalore, Ahmedabad, Hyderabad, and Indore—with over 30 centers hosting over 8,000 employees of brands like Swiggy, IndusInd Bank, Jio Saavn, PhonePe, and Tata Digital.

About Innov8:

Innov8 is a leading provider of premium co-working spaces, offering a vibrant and productive work environment with excellent connectivity, access, and flexibility. Founded in 2015 by Dr. Ritesh Malik, Innov8 has quickly established itself as a leader in the co-working space industry in India, with centres in key business cities across the country.