OYO's Innov8 raises Rs 110 crore at Rs 1,000 crore valuation

Oyo’s Innov8 has raised INR 110 crore at a valuation of INR 1000 crore. Innov8, Oyo’s co-working space arm, plans to use the funds to expand its operations and enhance its portfolio of coworking spaces across India. The company aims to cater to the growing demand for flexible workspaces in the post-pandemic world, where hybrid work models are becoming more prevalent. Innov8’s expansion aligns with the broader trend of increasing demand for coworking spaces, particularly in urban areas. The valuation highlights the strong investor confidence in Innov8’s potential to capture market share in the evolving workspace industry.