OYO-Owned Innov8 Raises Funds by Selling 3% Stake at ₹1,000
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OYO-Owned Innov8 Raises Funds by Selling 3% Stake at ₹1,000 Crore Valuation to Expand Co-Working Business

Growfast Securities and Credit Private Limited / Blog  / News  / OYO-Owned Innov8 Raises Funds by Selling 3% Stake at ₹1,000 Crore Valuation to Expand Co-Working Business
24 Jun 2025

OYO-Owned Innov8 Raises Funds by Selling 3% Stake at ₹1,000 Crore Valuation to Expand Co-Working Business

News
Oyo Owned Innov8 Raises by selling 3% stake

Innov8, the premium co-working space brand owned by OYO, has sold a 3% stake in the company to investors at a valuation of ₹1,000 crore, with the aim to expand its footprint in India’s booming flexible workspace market. Among the new investors, the Raymond Family Office has acquired nearly 2% stake, signaling strong confidence from institutional players in the brand’s growth trajectory.

Strategic Fundraise for Expansion

Earlier this year, in January 2024, Innov8 raised ₹110 crore by diluting 10% of its equity to a group of well-known investors. This included family offices of Gauri Khan, Mankind Pharma, Rupa Group, and Jagruti Dalmia, adding significant credibility to its investor profile.

Current Presence and Future Growth Plans

Founded in 2015 by entrepreneur Ritesh Malik, Innov8 currently operates over 30 co-working centres across 10 major Indian cities including:

Delhi, Gurugram, Noida, Mumbai, Pune, Chennai, Bengaluru, Hyderabad, Ahmedabad, Indore

With an average occupancy rate of over 90%, the company has seen robust demand for flexible office spaces post-pandemic. It now aims to scale up to 100 centres by the end of 2024, tapping into the surging demand for shared office spaces among corporates and startups alike.

Strong Financial Performance

Innov8 posted a significant profit after tax of ₹62 crore for FY 2023–24, a sharp jump from ₹2.5 crore in FY 2022–23. The company’s consistent growth and profitability reflect the rising appeal of flexible, managed workspaces among businesses looking to cut capital expenditure while remaining agile.

Rise of the Co-Working Sector

According to real estate consultancy Vestian, co-working space providers in India are projected to control more than 100 million square feet of office space by 2026. This marks a major shift in corporate leasing trends post-COVID, as businesses of all sizes turn to co-working hubs for cost-effective, tech-enabled, and collaborative environments.

About OYO Group

OYO, the parent company of Innov8, operates over 1.5 lakh hotel and home storefronts in 35+ countries, offering tech-driven hospitality solutions across the US, UK, Europe, and Southeast Asia. With a strong presence in both hospitality and flexible workspaces, OYO continues to expand its global portfolio.

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