Co-working space provider India Accelerator has invested $4 million to expand its footprint by 2.5 lakh square feet by adding seven new centres across Pune, Gurugram and Noida, the company said in a statement.
The expansion exercise includes 3,200 seats in Noida, 900 in Gurugram and 400 in Pune, it said. According to the company, the brand’s total footprint has nearly doubled to 4 lakh square feet following the latest expansion initiative.
“Investing $4 million into this expansion initiative, India Accelerator reaffirms its dedication to nurturing the growth of startups and fostering a dynamic entrepreneurial ecosystem in India,” said Abhay Chawla, co-founder and COO, India Accelerator.
Also read: Flex office space contributes to more than one-third of Delhi-NCR’s office leasing activity in Q1 2024
Besides these markets, India Accelerator also has one centre spanning over 15,000 square feet in Ahmedabad.
The total number of seats, on the other hand, has increased to approximately to 7,000, from 2,400 prior to the expansion, it said.
Launched in 2017, India Accelerator is a Gurugram-headquartered tech startup which also provides co-working spaces amongst its offerings. “IA’s dynamic ecosystem caters to the entire value chain, offering startups with the full spectrum of support in their journey,” the company statement noted.
Also read: Office leasing across top 6 markets up 16% annually at 15.8 mn sq ft in Q2 2024; Mumbai and Bengaluru drive demand
With presence in multiple locations, India Accelerator (IA) has grown its portfolio to over 200 startups, the company said.
“We are excited to embark on this journey of expansion, which will enable us to cater to a wider audience of innovators, creators, and entrepreneurs, providing them with the infrastructure and support they need to thrive,” Chawla said.
Along with the India Accelerator, the company is also active in early-stage investments through its joint venture ‘Finvolve’, three Alternative Investment Funds and a Gift City Fund.
Also read: Highest rental deal in BKC? IMC India leases commercial office space in Mumbai for ₹700 per sq ft
