The idea of coworking spaces revolves around the concept of leasing office infrastructure and resources to budding entrepreneurs, who are looking for an innovation-inspiring atmosphere. And today one of the largest co-working space providers in India — 91springboard has announced that it has secured an undisclosed amount of funding.
The investment was led by Chatter Holdings and ThirtyThree Investments. Other investors include — angel investor Soumitra Sharma, Deepak Sharma (former Chairman of Citi Private Bank), Sumit Dayal (Global head corporate finance at Standard Chartered Bank) and others.
91springboard will use the funding for expansion of the company, and building the tech capabilities. As one of the leading co-working space segment in the country, it also plans to increase operational efficiency and enhance the community building.
Pranay Gupta, co-founder 91springboard commenting on the same said,
We are proud to be able to say that our investors are all highly accomplished individuals in their own right. We are lucky to have their active support beyond just the investment. To also have members and our partners invest in us is another testament to the principles of building a community that we founded 91springboard on, as the community is now paying it forward.
Founded in 2013 by Anuj Pulstya, Pranay Gupta, Varun Chawla, Deepak Sharma, Anand Vemuri, and Susan Lim, it has grown to 7 cities with hubs in Delhi, Gurgaon, Noida, Hyderabad, Bangalore, Navi Mumbai and Mumbai. The company claims that each of the hubs is now a profitable business unit. The latest round of funding will surely be a major boost to 91springBoard’s rising journey.
91springboard is currently working with more than 300 companies and over 1000 co-workers. Members get access to a co-working space with 24×7 office-infrastructure support, key service providers, knowledge sharing & collaboration, networking. The facilities include Internet, conference rooms, photocopy/print/scan, network with startup community, free or discounted access to events, access to a mentor network etc.
A share of this investment will also go towards building the tech capabilities for the company to increase operational efficiency and enhance the community building efforts that the organization is so well known for.