iSprout, the managed office space brand announced that they are expanding into the cities of Hyderabad & Bengaluru with the $4M funds raised in the Pre-Series A round. The property expansion is approximately 3 lakh SFT and will facilitate around 4000 to 5000 seats.
Sharing her views on the same, Sundari Patibandla, CEO & Co-Founder at iSprout says, “We as a Managed Office space brand are continuously trying to come up with solutions that can help facilitate the ever-evolving office space industry and our expansion in the corporate cities of Hyderabad & Bengaluru is a major step in the direction. In the near future, we have a few more projects lined up in Pune, Chennai, Kolkata, NCR & Mumbai “
iSprout is undertaking properties sized 1 lakh SFT in Divyashree Trinity and sized 90k SFT in My Home Twitza, Hyderabad. Both the projects are expected to be completed by Q2 of financial year 2022. In Bengaluru, the managed office space brand is undertaking property sized 1 lakh SFT in Shilpitha Tech Park, this project is expected to be completed by Q3 of financial year 2022.
“We aim at an aggressive expansion in prime Indian cities and iSprout is expecting to surpass 1 million SFT by the end of financial year 2022 .Our current projects are running in Hyderabad and Bengaluru and we would like to have a competitive market share in these cities ”says, Sreeni Tirdhala, CMO & Co-Founder at iSprout.
iSprout is in talks for a $10M Series A round and the property expansion will be in existing markets such as Hyderabad, Bengaluru, Chennai, Pune as well as new markets such as NCR, Mumbai and Kolkata.
