Bangalore, February 8, 2017 – Innov8, a co-working office provider to startups, freelancers and SMEs in India, raise an Undisclosed Angel Round from Rajan Anandan (Google), S. Somasegar (Madrona Venture Group), Paytm, Girish Mathrubootham(Freshdesk), Kunal Shah (FreeCharge) and others on LetsVenture.
“India is the 3rd largest country for startups but also has the most expensive real estate. Early stage startups in India struggle to find high quality, affordable office space. Innov8 solves this problem by providing for this and also building a very strong community element in their spaces. Ritesh and Shailesh are focused and passionate founders and the early traction in Delhi has been very encouraging. I am very excited about the company they are building” said Rajan Anandan, Vice President and Managing Director Google India and investor in the round.
“An increasing number of entrepreneurs, freelancers and SMEs in India need flexible office space. Besides offering world-class co-working spaces, Innov8 offers these individuals to become part of a thriving, collaborative community. The workshops, events, and interactions with mentors & industry experts are huge enablers in fostering innovation and learning. I have known Ritesh for a long time. He is building a great brand with Innov8.” said Shanti Mohan, founder and CEO of LetsVenture
Innov8 has 2 co-working centers in Connaught Place, New Delhi and Emporium Mall, Chandigarh. Both locations are working at 100% capacity and have 200 member waitlist. Innov8 is launching their 3rd co-working center in Koramangala, Bangalore which will add 350 seats to take the total capacity to 500+ seats.
Innov8 is a coworking office provider to startups, freelancers and SMEs in India. Innov8 centers are between 50,000 – 70,000 sq. ft in prime locations of major cities in India. All centers provide free internet, power, vitamin water, coffee, nap rooms, copying, printing, meeting rooms, reception/concierge service. They are the only co-working startup with their own native iOS and Android mobile app which members can use to book a meeting room and nap rooms, attend events and chat with other community members. Innov8 conducts 700 community events per year.
Founded in 2013, LetsVenture enables startups and investors to discover and connect with each other. There are 12000+ startups and 2200+ investors on the platform. LetsVenture works with startups and investors on discovery, syndication and closure. This involves managing due diligence and paperwork closure. LetsVenture has enabled more than 100 startups to raise over $40mn.