Is OYO going to debut in CoWorking space with Innov8 acquisition ?

Online hospitality firm hotel aggregator OYO has been in talks to acquire CoWorking company Innov8, with presence in four major cities in India. If this goes through then this acquisition will mark the foray of OYO into coworking business as well. Where as OYO already had made debut in co-living space with OYO Living last year.

As per Entrackr an online mag “This deal has been in the negotiation phase for the past few months. Now, it has reached into advanced stage and will be announced somewhere early next month,” revealed sources Entrackr. The amount involved in the deal couldn’t be ascertained.

SoftBank Japan backed OYO is on shopping spree from sometimes as they acquired Novascotia Boutique Homes, Weddibgz and ableplus.

Where as INNOV8 recently raised $4 Million in Pre- Series A round fund, led by Credence Family Office. Earlier, several bluechip angels including Rajan Anandan, Vijay Shekhar Sharma and others had invested in the CoWorking company.
When asked about the deal, both OYO spokesperson and Innov8’s co-founder denied any such development taking place.

INNOV8 CoWorking claims to have 4000+ strong community members across 4 major cities. They charge somewhere 8000-12000 per desk.

Oyo is now becoming full stack RealEstate lease company. SoftBank added $800 mn and OYO raised $103 mn from Singapore based Ride hailing GRAB.

Now OYO will compete with likes of WeWork, 91Springboard, GoWorks, AWFIS etc. Indian Markete is poised to do something more interesting in furnished office spaces segment.

Some small local players in CoWorking segment are playing important role by providing world class services at very low price. Office aggregator like OfficePostBox and Instaspaces are giving another dimension of officing to entrepreneurs by providing Virtual Spaces at reasonable price.

Let’s see how things unfold. It’s good time to be in this business.