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JetSynthesys puts in $3 million to develop Silicon valley inspired co-working space ‘Garage’

Accel India, cash, startups, fund of funds
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JetSynthesys, backed by Infosys co-founder Kris Gopalakrishnan, has invested  $3 million to develop a unique infrastructure facility called ‘Garage’. The facility aims to offer a perfect ecosystem to startups. This involves holistic support for capital, mentors, technology, design, market access, legal and HR support in addition to an inspired working space.

The accelerator division of JetSynthesys, JetLabs has developed ‘Garage’. The first facility has already become operational in Mumbai with around 10 startups already working in ‘Garage’.

“Garage” is basically a co-working space for upcoming startups. It is modelled after successful co-working spaces of Silicon valley which help entrepreneurs and startups to develop their business. It has taken inspiration from the fact that many top tech companies like Google, Apple, Amazon, Microsoft, etc started out in rented garages.

Explaining about ‘Garage’, Rajan Navani, MD and CEO of JetSynthesys said,

It is a co-working space ideal for entrepreneurs that takes collaboration to a new level with creators, innovators and passionate learners. Having a capacity of about 170 seats, ‘Garage’ will also work with digital transformation teams of large Indian traditional businesses.

He further added that Garage offers a very unique collaborative workspace to all teams from large internet businesses. It takes care of all needs of a new startup- infrastructure, allied services, training and networking events, mentoring sessions, VCs and tech support, etc. This allows entrepreneurs to just focus on doing what they love and develop a sustainable business without worrying about these other things.

Trend of co-working space in India

Most startups often cannot afford the luxury of a separate office during the initial years. Consequently, the increasing number of startups in India has led to a huge demand of working spaces. And investors also have shown an interest towards such services which solve this problem of other startups.

Last year, marketplace for shared office spaces MyCuteOffice raised an undisclosed amount of seed funding from Lead Angels. This year, another co-working space BHIVE Workspace raised about $1 million from Blume Ventures. And last month, Jaipur-based co-working club Wired Hub also raised an undisclosed amount of funding. It particularly focusses on Tier-II cities and offers its services at affordable rates beginning at minimum of INR 2500/-.

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