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

Flex space start-up Innov8, which is owned by OYO, has raised Rs 110 crore in a funding round led by family offices, including those of Mankind Pharma, Gauri Khan, Rupa Group and Jagruti Dalmia. These investors together have accounted for 55% of the total funds raised. The fund was raised at an enterprise valuation of Rs 1,000 crore.

The company diluted 10% of its stake for this capital infusion. RakeshKumar, Group Chief Financial Officer, OYO said “The funds raised will empower Innov8 to accelerate our expansion plans, building on the strong growth and operating leverage we are already achieving.”