Innov8 launches its largest flex space centers in Mumbai in 2 lac sq ft

New Delhi, December 19, 2024: Innov8, India’s leading startup, continues its rapid expansion with the launch of two state-of-the-art centers in Mumbai at Navi Mumbai and Andheri. Each center, spanning over 1 lakh square feet with a total seating capacity of 3000, marks Innov8’s largest facilities to date, underscoring the company’s commitment to meeting the surging demand for modern flex spaces in India’s financial capital.

Q Parc – the Navi Mumbai center is strategically located along the Thane-Belapur Road in Ghansoli, a key IT corridor in Mumbai, catering to the requirements of premium office space with a total seating capacity of 1500. It is located near the Ghansoli railway station and conveniently connected to Mumbai via Eastern Express Highway. The proposed new Navi Mumbai Airport is just 25 km away. The center offers an exclusive lounge for senior level officials, residential towers, retail mall, 4 acres of open area, 10 sports courts, multiple food courts and a 500-seater amphitheater.

Innov8 Zion – the Andheri center is a premier green certified building located along the Western Express Highway with a total seating capacity of 1500. It has good connectivity from Andheri and Vile Parle railway stations and Gundavil metro station. The center offers an uninterrupted power supply, three high speed elevators for quick and efficient movement within the building and availability of a large talent pool from nearby professional colleges.

Commenting on the development, Ritesh Malik, Founder of Innov8 said “The demand for flexible and efficient office spaces is at an all-time high driven by the rise of hybrid work models and the need for cost-effective, scalable office solutions. This expansion reflects our dedication to providing dynamic, future-ready workspaces that empower businesses to thrive.”

Pankhuri Saluja, Business Head of Innov8 added “These centers are designed to offer flexibility, premium amenities, and vibrant work environments suitable for enterprises, startups, and freelancers alike. They also offer a dynamic work atmosphere to boost productivity and collaboration.

Innov8 is raising ₹100 crore to accelerate its operations in 2025. The capital raised will support strategic inorganic growth opportunities such as acquisitions, technology upgrades, partnerships, and expansion into niche segments.

Innov8 has expanded into the managed office space sector, aiming to add 4 million square feet to its footprint across India over the next three years. This growth will concentrate on Grade A buildings, providing clients with premium quality and state-of-the-art amenities to elevate their workspaces.

The demand for coworking spaces is growing in India. A report by private equity company Avendus says that India’s workspace market is projected to reach 126 million square feet (msf) by 2028, up from 61 msf in 2023. The expansion aligns with changing market dynamics as more global capacity centers (GCC), startups, solopreneurs, food aggregators, SMEs, and large enterprises adopt coworking spaces to enhance employee productivity, foster collaboration, and optimising operational costs by scaling up or down as per business requirements.

Founded in 2015 by Dr Ritesh Malik, Innov8 is currently spread across 10 cities—Delhi, Gurgaon, Mumbai, Pune, Chennai, Bangalore, Ahmedabad, Hyderabad & Indore.

Corporate Comm India (CCI Newswire)