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Flex spaces boom as the office goes to the employee

LivemintLivemint · 11m ago
Flex spaces boom as the office goes to the employee
Medial

Indian flexible space providers, such as Awfis Space Solutions, WeWork India, IndiQube, and Urban Vault, have experienced significant revenue growth since the pandemic. The demand for alternative workspaces closer to employees has risen among corporates, startups, and professionals. The flexible office segment, including co-working and managed workplaces, has witnessed expansion, with capacity additions of 8-9 million square feet each in 2022 and 2023. This growth has prompted many space providers to go public, including Awfis, Smartworks Coworking Spaces, WeWork India, Simpliwork Offices, IndiQube, and Table Space Technologies. Global capability centres, along with traditional IT services and business process management, are driving the demand for co-working and managed workplaces.

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Office space management company Workie raises 13 Cr

EntrackrEntrackr · 8m ago
Office space management company Workie raises 13 Cr
Medial

Office space management company Workie has raised Rs 13 crore in equity funding from a distinguished group of investors. The round was co-led by the Sunil Singhania Family Office, NAV Capital, Raman Roy, Dharmendra Jain, Gaurav Singhvi, Sunil Singhvi, and other investors. The funds will be deployed towards expansion, reinforcing its leadership in the market, and unlocking new opportunities for businesses, developers, and investors, Workie said in a press release. Founded by Sawan Laddha, Workie aims to transform the way businesses think about office spaces. It eliminates the hassles of complex traditional leases, high upfront costs, and long-term commitments. The company offers flexible office solutions that scale with businesses, and its spaces can be tailored to meet the needs of both startups and large corporations. Workie claims to have a presence in key cities and is rapidly expanding across more than 15 cities, including Indore, Mumbai, Chennai, Pune, and Bangalore. It continues to attract major clients such as Zomato, Bajaj, Patanjali, Schneider, OYO, Firstsource Solutions, WhiteOak, and others. For commercial property developers, Workie offers an opportunity to maximize returns on their spaces. By partnering with it, developers can transform their bare-shell spaces into premium office spaces that cater to the growing demand for flexible, cost-effective workspaces. According to the Indore-based company, its spaces are designed to provide maximum flexibility, allowing businesses to adjust their office size and scale according to changing demands. From fully furnished and managed offices to coworking spaces, Workie ensures that businesses save on capital while benefiting from modern, well-equipped workspaces that inspire growth and collaboration. Workie aspires to empower the Indian office space sector, offering solutions that meet the needs of today’s workforce while creating a thriving ecosystem for businesses and professionals to grow dynamically. Workie states that it is currently hosting more than 150 clients across 50 prime locations and managing 15,000 seats across 1,000,000 sqft of commercial space in India.

OYO-Owned Innov8 Forays Into Managed Office Space Segment

Inc42Inc42 · 12m ago
OYO-Owned Innov8 Forays Into Managed Office Space Segment
Medial

- Innov8 has announced its plans to add 4 Mn square feet of managed office space in India in the next three years. - The startup is targeting Mumbai to build its largest managed office space project as part of its expansion strategy. - Innov8, founded in 2015 by Malik, currently operates premium coworking spaces across nine cities in India. - The company's expansion efforts aim to meet the growing demand for flexible workspace solutions in the Indian market. - Innov8 is recognized for its high-quality coworking spaces and is well-positioned to capture the market's increasing demand for such services. - The addition of 4 Mn square feet of office space demonstrates Innov8's commitment to becoming a key player in the coworking industry in India.

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