iSprout, a provider of managed office solutions for Global Capability Centres, large enterprises, and startups, secured ₹60 crore in debt funding from Tata Capital.
Furthermore, Co-Founder and Chief Executive Officer Sundari Patibandla stated, “We will use the proceeds to accelerate expansion across key metros, strengthen enterprise-grade infrastructure, and enhance its rapidly growing managed office portfolio.”
The startup announced that it would deploy the capital to establish new centres in Tier-I and Tier-II cities and to upgrade its technology, workspace customisation capabilities, and end-to-end facility management services.
Additionally, she said, “We would like to increase our share in the flexible workspaces and scale with disciplined, asset-strategic growth.”
The company currently operates 25 centres across nine cities and manages a total portfolio of 2.5 million sq ft, which includes spaces still under development.
She also noted that the company is experiencing rising demand for customised and fully managed office environments. Moreover, she added, “The new funding enables the company to scale faster to meet this surge in demand.”
In addition, Sreenivas Tirdhala, Co-founder and Chief Strategy Officer, said that enterprises and GCCs require flexible, high-performance work ecosystems.
