Co-Working Space Startup 91 Springboard Raises 45 Crore

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Co-working space provider, 91Springboard has raised Rs 45 crore from its existing investors– Al Nour International Holdings Co, Pearl Brook Holdings Ltd, Almunajem Group, etc. In 2018 the company had raised $10.2 million from Shinsei Bank of Japan and FreakOut, which is a Singapore based company and a few more investors.

CEO of 91Springboard, Anand Vemuri, said that their company is amongst the few co-working setups that have been operating on a profitable level. They plan to use their current raised funds in offering customized solutions to their customers.

Out of the 27 co-working spaces that they have in India, 14 of them have been re-opened. These 14 office spaces are located in Hyderabad, Delhi, Bengaluru, Noida, Gurugram, and Goa. Famous brands like OLX, Datamatics, TataSky, Zomato, Cleartrip, Groww, Mahindra Retail, Marsh1 MG, SleepyCat, IndiaMart, and Cardekho are clients of 91springboard.

The remaining co-working spaces will re-open soon, depending on the advisories that are released by the government. They will also ensure that proper health and safety measures are in place before they reopen their offices. About 60% of customers have promised to return to their co-working space, Vemuri added.

He also said that several large enterprises are looking forward to being associated with 91Springboard. These big businesses are looking forward to benefits such as “pan-India access, flexibility, and strategic partnerships.”

Co-working space is a pretty new concept in India and would take time for people to accept this type of work culture. It is surprising to see 91Springboard generate so much investment at this time. We look forward to witnessing the amenities that they would be adding to their co-working spaces to make it alluring to their customers.

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