₹1,000 Crore Valuation: Oyo’s Innov8 Sells 3% Stake to Support Co-Working Growth

Innov8, a co-working brand owned by Oyo, has raised fresh capital by selling a 3% stake at a ₹1,000 crore valuation. The move reflects the growing demand for managed flexible workspaces across India. With support from institutional and family office investors, the company plans to accelerate its expansion strategy in key urban markets.

Oyo’s Innov8 Sold 3% Stake at ₹1,000 Crore Valuation 

According to reports, Innov8 has sold 3% of its equity to a set of investors, with the Raymond Family Office acquiring nearly 2%. The transaction values the company at ₹1,000 crore. This investment marks a continued trend of rising institutional interest in the co-working business model.

Previous Fundraise Featured High-Profile Investors

Earlier in January, Innov8 raised ₹110 crore by diluting 10% of its equity. The round saw participation from several family offices, including those of Gauri Khan, Mankind Pharma, Rupa Group, and Jagruti Dalmia. These investments have provided the financial support needed for rapid scale-up.

Network Expansion Across Indian Cities

Founded in 2015 by Ritesh Malik, Innov8 operates over 30 centres in cities such as Delhi, Gurugram, Noida, Mumbai, Pune, Chennai, Bengaluru, Ahmedabad, Hyderabad, and Indore. The company has witnessed more than 90% occupancy across these locations, underscoring the rising preference for flexible office arrangements.

Targeting 100 Centres by Year-End

With robust demand and strong investor backing, Innov8 aims to grow its footprint to 100 centres by the end of this year. The expansion strategy is expected to focus on both metro cities and emerging business hubs, catering to startups, SMEs and corporates seeking flexible workspace solutions.

Strong Financial Performance in FY24

For the financial year 2023-24, Innov8 posted a profit after tax of ₹62 crore, a significant jump from ₹2.5 crore in the previous year. This growth in profitability highlights the operational strength and increasing market adoption of its services.

Demand for Co-Working Grows Post-Pandemic

The demand for managed flexible workspaces has surged after the Covid pandemic, with companies of all sizes choosing co-working centres to reduce capital expenditure and increase operational flexibility. Industry experts believe that this trend will continue to gain momentum in the coming years.

Industry Outlook Points to Continued Growth

According to real estate consultancy Vestian, co-working operators are projected to hold over 100 million square feet of office space by the end of 2026. This indicates a strong future for businesses like Innov8, which are well-positioned to meet the evolving needs of the modern workforce.

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Conclusion 

Oyo, the parent company of Innov8, operates over 1.5 lakh hotel and home storefronts across more than 35 countries. It offers a suite of technology solutions for the hospitality sector and maintains a presence in markets such as the US, UK, Europe, and Southeast Asia. This global exposure strengthens Innov8’s credibility and provides strategic resources for growth.

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