iSprout Secures Rs 40 Crore Investment from Vivriti Asset Management

In a significant move that underlines its commitment to expansion and innovation, co-working space provider iSprout has successfully raised Rs 40 crore through the issuance of its first secured bond. The investment was subscribed by Vivriti Asset Management (VAM), marking a crucial milestone in the growth of the co-working brand.

iSprout, founded in 2016 by entrepreneurs Sundari Patibandla, Sreenivas Tirdhala, Sesshaa Prasad, and Vijay Oddiraju, has been at the forefront of meeting the growing demand for managed office spaces, serving both startups and established businesses. The funds secured from this investment will be pivotal in further enhancing their operations, with a substantial portion designated to expanding their presence in key markets, notably Hyderabad and Bengaluru.

A press release from iSprout has indicated that the infusion of funds will also play a pivotal role in their technological development. The company aims to streamline and automate essential procedures, ensuring a seamless experience for its customers. This move signifies iSprout’s commitment to staying at the forefront of the co-working industry’s evolving needs.

Recent achievements showcase iSprout’s dedication to its mission. The company has recently unveiled an impressive 2 lakh square feet of new office spaces. As part of their ambitious plans, they are now gearing up to launch their thirteenth center, which will encompass over 1.5 lakh square feet of prime office space, and is slated to be operational by November 2023.

With the new capital infusion and a clear vision for growth, iSprout aims to achieve a turnover exceeding Rs 120 crore by the end of the financial year 2023-2024. This target underscores their confidence in the future of the co-working industry, and the critical role iSprout is poised to play in it.

The partnership between iSprout and Vivriti Asset Management is undoubtedly a strategic alliance that is set to reshape the co-working landscape in India. As iSprout continues its upward trajectory, the co-working industry as a whole is witnessing exciting times, with innovation and expansion as its key drivers.