iSprout Secures Rs 60 Crore Debt From Tata Capital to Scale Managed Offices

Overview

• iSprout will deploy the funding to open new centres in Tier 1 and Tier 2 cities and to upgrade technology, workspace customisation and end-to-end facility management.
• The Hyderabad-based operator currently runs 25 centres across nine cities, covering about 2.5 million sq ft.
• CEO Sundari Patibandla said the investment strengthens expansion into high-growth business hubs and supports disciplined, asset-focused scaling.
• Cofounder Sreenivas Tirdhala said the company has grown 10x over the past five years and is targeting roughly 3 million sq ft with a longer-term IPO goal.
• Earlier raises included $4 million in 2022 and $4.8 million in October 2023 from Vivriti Asset Management, in a competitive market with listed rivals such as DevX, WeWork India, Awfis, IndiQube and Smartworks.