InvestorQ : What has 91 springboard raised funding for?
Niti Shenoi made post

What has 91 springboard raised funding for?

Answer
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Archita Jajjoo answered.
3 months ago


91springboard is a start-up focused on co-working spaces. It will now raise funds to the tune of Rs.45 crore from Pearl Brook Holdings Ltd and Al Nour International Holdings, both of which are existing investors of 91springboard. The start-up is currently creating co-working communities for large enterprises as well as for SMEs.

91springboard claims to be one of the few start-ups with a genuinely profitable model. It has just reopened half of its 27 co-working centres in India spread across Delhi NCR, Gurgaon, Noida Bengaluru, Hyderabad, and Goa. The others are shut pending government advisories. In the post COVID-19 scenario, demand has grown by 70%.

91springboards propose to use these funds to expand its geographical presence across India as well as to have a reserve created to take care of contingencies in the future. It will also use these funds to invest in technology to create and offer a better value proposition to its corporate customers.