91springboard, the oldest and certainly the most established player in the Indian coworking space segment has just raised an undisclosed amount of funding. 91springboard began its operations in Delhi in 2013 and has since then grown to 7 cities with hubs in Delhi, Gurgaon, Noida, Hyderabad, Bangalore, Navi Mumbai and Mumbai. Each of the hubs is now a profitable business unit and the management believes they will be profitable as an organization as a whole too by the end of the year.
“We are thrilled with these latest developments and are extremely grateful to our investors for their faith. It is a testament to the belief that the investors have put in us and it also means that we are doing a good job and have consistently rewarded their faith with solid performance and growth numbers” – said Varun Chawla, cofounder 91springboard.
This latest tranche of capital will primarily be used for expansion purposes for the company. A share of this latest investment will also go towards building the tech capabilities for the company to increase operational efficiency and enhance the community building efforts that the organization is so well known for.
“We are proud to be able to say that our investors are all highly accomplished individuals in their own right. We are lucky to have their active support beyond just the investment. To also have members and our partners invest in us is another testament to the principles of building a community that we founded 91springboard on, as the community is now paying it forward!” – said Pranay Gupta, cofounder, 91springboard.
91springboard has grown from its humble beginnings of their first hub in Mohan Estate, Delhi with to now having hubs in 7 cities. As leaders in the coworking space segment in India, this latest round of funding will surely be a major boost in their growth story.
A few of the Investors who participated in the round include:
Mr. Deepak Sharma – Mr. Deepak Sharma was the Chairman of Citi Private Bank, which is a part of Citi, a leading global financial services company operating in 100 countries. In this role, he had senior leadership of the Private Banking business of Citi across US, EMEA, Asia & Latam. He has also been appointed the Co-Chair of the Global Advisory Council of the International Society for Stem Cell Research. After leaving Citi in 2014, Mr. Deepak Sharma has cofounded 91Springboard, a startup in India which provides coworking and an ecosystem for startups across India.
Dr. Susan Lim – Dr.Susan Lim performed Singapore’s first successful liver transplant in 1990. The Business Times named her “Spirit of the Century” role model for the 21st century. She is Co-Chair of the Global Advisory Council of the International Society for Stem Cell Research, visiting scholar to UC Berkeley and cofounder 91springboard.
Mr. Satpal Khattar – Satpal Khattar, the founder of Khattar Holdings, is an Indian born Singapore based lawyer, businessman and community leader, known for his services to the Indian community in Singapore. The Government of India honored Khattar in 2011, with the fourth highest civilian award of Padma Shri, reported to be the first Singaporean to receive the Padma award. He was one of the first investors in Gateway Distriparks Ltd, Punjab’s Pagro Foods Ltd and India Infoline Ltd, among others.
Pooja Kohli Jayaram – Pooja is a corporate sales professional with 11 years of experience under her belt in advertising and financial services.
Mr. Mridul Malhotra – Mr. Mridul Malhotra is a Business strategist with over 10 years of management consulting experience spanning the provider and life sciences industries. Presently, he is the Senior Director at PriceSpective in Greater New York city area.
Mr. Soumitra Sharma – Soumitra Sharma is an angel investor and is currently driving global strategy including product, partnerships, investments and go to market for alibaba groups across Asia and the US.
Mr. Vikram Sud – Mr. Vikram Sud has 30 years of international banking experience doing product, business, technology & operations management roles across both corporate & consumer banking in India, Asia & the US. He also has immense knowledge about people and process management, leadership and talent development.
Mr. Sumit Dayal – Sumit Dayal is the global head corporate finance at standard chartered bank and also leveraged finance and equity capital markets.
Mr. Sambhav Mehrotra – Sambhav Mehrotra has recently joined as VP-Finance. Prior to joining 91springboard he was a full time partner at Mohindra & Associates, Chartered Accountants. He is also the Founder consultant at Startup Movers Private Limited – Startup Financial Service provider entity.
Mr. Rahul Gupta – Rahul Gupta is currently the managing director business development – ASEAN at GE and has senior leadership experience across industrial, consumer financial services and telecom with leading multinationals such as GE and American Express.
91springboard is a vibrant coworking community created for startups, freelancers and business owners with a startup mindset. They are dedicated to making your work-life easy and fun while playing an integral role in helping your organization grow. Members of 91springboard get access to a coworking space with 24×7 office-infrastructure support, key service providers, knowledge sharing & collaboration, networking and of course, a free spirited culture that breeds innovation.