Co-working space Innov8 raises angel round from angel groups and HNIs
Summary
Y Combinator-backed co-working space Innov8 has raised an angel round led by LestVentures, Venture Catalysts, and independent angel investors including Vijay Shekhar Sharma (Paytm), Rajan Anandan (Google), Kunal Shah (Freecharge), Girish Mathrubhootham (Freshdesk), PunitSoni (Ex-Flipkart CPO), Anand Chandrasekeran (Facebook), Sunil Kalra (Via Projects), Utsav Somani (Angel List India), Vishal Gondal (GOQii), Vikram Limaye (IDFC Bank), and others.Delhi-based Innov8, which has co-working spaces in Chandigarh and Bengaluru, plans to launch two more centres in Mumbai and Gurgaon in the next three months. Dr Ritesh Malik, Co-founder of Innov8, says,Co-founded by serial entrepreneurs and investors Dr Ritesh and Shailesh Gupta, Innov8 provides shared workspaces, community, and services to startups, freelancers, entrepreneurs, and even divisions of large corporates.In July last year, Innov8 was one of the three domestic startups to be selected by YC for a three-month programme based out of its Mountain View headquarters.Commenting on the announcement, Shanti Mohan, Founder and CEO of LetsVenture, says: An increasing number of entrepreneurs, freelancers, and SMEs in India need flexible office space. The workshops, events, and interactions with mentors and industry experts are huge enablers in fostering innovation and learning.Rajan, Vice President and Managing Director of Google India and investor in the round, adds that India is the third largest country for startups but also has the most expensive real estate. Early-stage startups in India struggle to find high quality and affordable office space. Innov8 solves this problem by providing the space solution and also building a very strong community element in their spaces.According to NASSCOM, India with over 3,100 startups is the third largest base for entrepreneurship in the world.