OYO-owned Innov8 sells 3% stake at Rs 1,000 crore valuation to expand co-working business

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OYO-owned co-working firm Innov8 has sold 3% stake in the company to investors at a valuation of Rs 1,000 crore to expand its business amid rising demand of flexible workspace, according to sources.

Raymond Family Office has emerged as the lead investor, acquiring nearly 2% share, they added.

Global travel tech platform OYO Group declined to comment.

In January this year, Innov8 had raised Rs 110 crore from investors, diluting 10% of its equity to a clutch of high-profile investors including family offices of Gauri Khan, Mankind Pharma, Rupa Group,…



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OYO-owned Innov8 sells 3% stake at Rs 1,000 crore valuation to expand co-working business


OYO-owned co-working firm Innov8 has sold 3% stake in the company to investors at a valuation of Rs 1,000 crore to expand its business amid rising demand of flexible workspace, according to sources.

Raymond Family Office has emerged as the lead investor, acquiring nearly 2% share, they added.

Global travel tech platform OYO Group declined to comment.

In January this year, Innov8 had raised Rs 110 crore from investors, diluting 10% of its equity to a clutch of high-profile investors including family offices of Gauri Khan, Mankind Pharma, Rupa Group,…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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