Venture X plans to invest $2-3 million by 2023 in co-working sector

NEW DELHI: Venture X, an affiliated brand of United Franchise GroupTM‘s (UFG) co-working division-CoworksTM, has entered Indian co-working sector through franchise based model and plans to invest $2-3 million by 2023. The company so far has invested approximately $5 million in the Indian market.

“Post the pandemic, flexible office spaces are very much in demand and in times to come franchise based models would be the right choice as they are better aligned towards revenue for all stake holders. We have invested around USD 5 Million in the Indian market and plan to invest USD 2-3 Million by the year 2023,” said Anil Lakra, India Partner, Venture X.

The company has opened two co-working spaces in Gurugram with a cumulative 1,200 seats spread across 45,000 sq ft and 16,500 sq ft space at Sector 67 and 44 respectively.

“We have the Master License for the India region. We have currently opened two locations and would grow to 8-10 across India by end 2023,” said Rahul Kapur India Partner.

Venture X intends to expand its team size all across India and has plans to spread its footprint in major metro cities, including Bengaluru, Hyderabad, Mumbai, Chandigarh, and Pune in the near future.