Innov8, a flexible workspace startup, has raised ₹110 crore in a primary funding round, diluting 10% of its stake. The round was led by InCred Wealth and Investment Services Private Limited.
DMD Advocates advised Innov8 and their shareholder Oyo Hotels and Homes Private Limited on this transaction.
The transaction was led by Pallavi Puri (Partner), along with Shubhangi Bhatnagar (Principal Associate) and Arnav Mithal (Associate), under the guidance of Rashi Dhir (Senior Partner & Head of Corporate).
IndusLaw represented lead investor InCred on this transaction.
The transaction team consisted of Harman Walia (Partner), Sanjana Mathur (Principal Associate) and Aman Gupta (Senior Associate).
Rakesh Prusti (Group General Counsel, OYO Group) and Anshuman Singh (AVP Legal, OYO Group) also worked on this transaction.
This marks the beginning of a successful growth phase for Innov8 in the ever evolving and growing workspace business. The company plans to leverage this fresh infusion to accelerate its expansion in India, aiming to double its coworking centers to 100 by 2025.
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