One of the first coworking enterprises in India is planning to provide up to 1.5 lakh coworking desks until March 2022. 91Springboard was launched in the year 2013 and today they have a heavy presence in various major cities of India including Delhi, Mumbai, Gurugram, Bengaluru Navi Mumbai, Goa, Pune, and Hyderabad. After successful operations in these cities and earning revenue of more than 45 crores the last fiscal 91Springboard is planning to progressively increase the number of desks and also include under their wings tier II cities.
The Indian coworking culture is still anew and people are growing up to the idea of coworking. In this scenario, 91Springboard is leaving no stone unturned to promote this concept in the country. This plan to increase their strength from the current 12,500 desks to 25,000 by April next year and progressing further to fulfil their objective of 1.5 lakh desks will require some heavy funding and support.
This coworking culture is growing on the millennials who want state of the art infrastructure, and top-notch services to work efficiently. Above all, the present generation believes in networking and they find it easy to build up connections through the coworking spaces. 91Springboard is at the forefront to leverage this growing trend and provide all that is required by the millennials startup inception.
The latest and 4th funding round got them $10.2 million from a Singapore based company, and their previous three funding rounds earned them $16.5 million, $5.7 million and $1 million making a total of almost $33 million funding till now.
What the Future holds for 91Springboard?
Co-founder Varun Chawla has high hopes for their new venture as they believe that 91Springboard is now a booming business. Their stern faith in endorsing the coworking idea in India will reap fruits once they include the tier II cities into their ambit. The work has started and after some upgrades and increasing the number of seats in the existing spaces they are planning to cover other cities including Chandigarh, Ahmedabad, Kolkata, and Chennai. The third round of expansion will expose Vizag, Mangalore, and Kochi to the concept of coworking spaces.
91Springboard partners with Google:
To further complement women empowerment in India 91Springboard has partnered with Google. This is done to provide one-month training to train the women entrepreneurs and help them take up entrepreneurial ventures. The major focus of this training sesh is to improve their leadership skills, make them aware of the technological dynamics and mentoring them.
91Springboard & Awfis
On similar lines of 91Spingboard, Awfis is also planning an expansion of its co-working spaces. It has already made its name in Pune where the organization manages 7 coworking spaces as of now all because of the budding entrepreneurship climate of the city. The expansion model of Awfis is aiming to open 21 coworking spaces taking the total to 12000 desks in the city within the next few years.