iSprout Expands Horizons with Rs 60 Crore Boost from Tata Capital

Hyderabad-based iSprout raises Rs 60 crore in debt from Tata Capital to expand its managed office space business across Indian Tier 1 and Tier 2 cities. The investment will enhance its technology, workspace customisation, and management services, catering to growing corporate demand for flexible workspaces.

Hyderabad-based real estate company, iSprout, has successfully secured Rs 60 crore in debt funding from Tata Capital. This financial injection will fuel the expansion of its managed office spaces across various Indian cities, focusing on meeting the increasing demand for flexible work environments.

iSprout, which already boasts a presence in nine cities with 25 co-working centres spanning 2.5 million sq ft, plans to utilize the funds for creating new centres in Tier 1 and Tier 2 cities. This strategy aims to capitalize on the emerging trend of corporates seeking adaptable workspace solutions.

To enhance its service offerings further, iSprout intends to upgrade its technology, workspace customization capabilities, and end-to-end facility management. Co-working companies like iSprout typically lease office spaces from real estate developers and subsequently sublease them to corporate clients, providing a flexible alternative to traditional office setups.

(With inputs from agencies.)