NEW DELHI: iSprout; a managed office space provider, will take three lakh sq ft office space in total in Hyderabad & Bengaluru with the $4 million funds raised in the Pre-Series A round. The project will facilitate around 4,000 to 5,000 seats.
“We aim at an aggressive expansion in prime Indian cities and iSprout is expecting to surpass 1 million sq ft by the end of financial year 2022,” said Sreeni Tirdhala, CMO & co-founder of the company.
The company is undertaking properties sized 1 lakh sq ft in Divyashree Trinity and 90,000 sq ft in My Home Twitza, Hyderabad. Both the projects are expected to be completed by Q2 of financial year 2022.
In Bengaluru, it is undertaking 1 lakh sq ft in Shilpitha Tech Park, which is project is expected to be completed by Q3 of financial year 2022.
iSprout is also in talks for a $10 million 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.
Sundari Patibandla, CEO & co-founder of the company said, “In the near future, we have a few more projects lined up in Pune, Chennai, Kolkata, NCR & Mumbai.”