Indian hotel chain Oyo has entered the co-working segment, with a reported $30m acquisition of start-up Innov8 and the establishment of Oyo Workspaces, which already has 20 locations in 10 Indian cities. The company is also looking to expand into other emerging markets such as China, where it recently opened its first office outside India. Kapoor said Oyo believes it can not only become a market leader in the nation but also expand the size of the market itself. Innov8 joins Oyo Workspaces’ other brands, Workflo and Powerstation, which provide low-cost co-working services. Oyo's last funding round valued the company at more than $5bn.
Indian hotel chain Oyo has entered the co-working segment, with a reported $30m acquisition of start-up Innov8 and the establishment of Oyo Workspaces, which already has 20 locations in 10 Indian cities. The company is also looking to expand into other emerging markets such as China, where it recently opened its first office outside India. Innov8 joins Oyo Workspaces’ other brands, Workflo and Powerstation, which provide low-cost co-working services. Oyo's last funding round valued the company at more than $5bn.