91springboard has raised fund from Sandway Investment Ltd, Pearl Brook Holdings, AMA Holdings, Silo Holdings and Al Nour. The total funds raised by the company is over $20Mn.
With startups on the rise and coworking spaces are very much in demand as it caters to all the needs of the startups. From startups, freelancer and large enterprises demanding for the coworking spaces the growth has been quick and 91springboard has launched its 14 hubs in mid-September 2017. They have planned to utilize the current funding to increase productivity, collaboration and for the growth to customers in more areas and markets.
91springboard founded in 2012 started its operations in Delhi in 2013 by launching its first coworking space. It now has expanded to 7 cities with hubs in Delhi, Gurugram, Noida, Hyderabad, Bengaluru, Navi Mumbai, and Mumbai. The company claims to be making a profit in each of its units.
There are over 2000+ companies work from 91springboard hubs with a cumulative capacity of over 9500+. It is one of the incubators picked by Niti Aayog under the Atal Innovation Mission for scale-up support. They do have plans to open a hub in Goa too.
With a line of coworking spaces in Indian startup ecosystem, it just seems to be growing in all directions. 91springboard is in direct competition with Investopad, Jaaga, BHive, Nasscom’s 10,000 Startups Warehouse. The need addressed in the coworking space is not to worry about the infrastructure to get the team to work. It is all taken care off. This leads to a great advantage for the companies thereby saving the money, effort and also the extra burden of getting things ready thereby leaving them stress-free and focus just on their work.