OYO-owned Innov8 has raised new capital by selling a 3% stake at a valuation of ₹1,000 crore, marking another big move in India's fast-evolving co-working sector. The investment aims to fuel Innov8’s aggressive expansion plans, with the company targeting 100 centres across India by the end of 2025.

Among the new investors, Raymond Family Office emerged as the lead, acquiring close to 2% of the stake, sources said. The identity of other investors remains undisclosed, and OYO Group declined to comment on the development.

Founded in 2015 by Ritesh Malik, Innov8 currently operates over 30 centres in 10 cities, including Delhi, Gurugram, Mumbai, Pune, Chennai, Bengaluru, Noida, Ahmedabad, Hyderabad, and Indore. The brand has consistently seen over 90% occupancy, underscoring the growing demand for flexible, managed workspaces post-pandemic.

This investment comes on the heels of January 2025’s ₹110 crore round, where Innov8 diluted 10% equity to onboard a high-profile mix of investors including Gauri Khan, Mankind Pharma, Rupa Group, and Jagruti Dalmia.

The company’s financial performance has also seen a sharp upswing, with profit after tax jumping from ₹2.5 crore in FY23 to ₹62 crore in FY24. Experts attribute this to the surge in demand for hybrid and asset-light office models, particularly from startups and mid-sized corporates.

According to real estate consultancy Vestian, co-working operators in India are projected to occupy more than 100 million sq. ft. by 2026. This positions Innov8 as a key player in the race for market share.

Innov8 operates under the umbrella of OYO Group, which manages over 1.5 lakh hotel and home storefronts in 35+ countries, including the US, UK, Europe, and Southeast Asia. The group offers a suite of tech-driven hospitality and workspace solutions, with co-working becoming a major vertical in its diversified portfolio.

With strong financial backing and a profitable track record, Innov8 is now poised to scale up rapidly—meeting the workspace needs of India’s new-age workforce and reshaping commercial real estate norms in the process.

In a major step toward building a more inclusive and sustainable hospitality sector, Amadeus and the World Sustainable Hospitality Alliance (the Alliance) have announced an expanded global partnership to scale the Alliance’s Employability Program. This joint effort aims to empower disadvantaged youth with the skills and confidence needed to launch careers in hospitality.

The collaboration is part of Amadeus’ global Community Impact program, which focuses on promoting digital inclusion and job readiness in the travel industry. As a global partner, Amadeus will support the program’s multi-country expansion, offering financial assistance, mentorship, employee volunteering, and access to hospitality software—bringing meaningful transformation to communities around the world.

The first pilot project under this expanded alliance was launched in April 2025 in India, in partnership with local NGO Kherwadi. The initiative will benefit 200 underprivileged youth across Bengaluru, Mumbai, Pune, and Delhi, providing training in collaboration with local and global hotel brands.

The Employability Program is already operational in India, Egypt, and Sri Lanka, and has helped over 6,000 young individuals—particularly women—gain employment-ready skills. Its success lies in the collaborative approach, uniting hotels, food and beverage businesses, NGOs, and training partners to reduce barriers to employment.

Glenn Mandziuk, CEO of the World Sustainable Hospitality Alliance, praised the initiative:

“This pilot with Amadeus will create real impact in local communities and demonstrates how the hospitality sector can break down access barriers to employment and truly change lives.”

Francisco Pérez-Lozao Rüter, President of Hospitality at Amadeus, added:

“Sustainable hospitality means giving back to communities. This partnership is our commitment to making a social impact where we operate.”

The World Sustainable Hospitality Alliance represents over 66,000 hotels and 300 brands, working with more than 50 expert partners to guide the industry toward a Net Positive future—where hospitality gives more to destinations than it takes.

This initiative not only provides life-changing opportunities to young people, but also sets a benchmark for how the hospitality industry can drive inclusive growth through meaningful partnerships.

Cygnett Hotels & Resorts, one of India's fastest-growing hospitality chains, has announced its latest expansion in Uttar Pradesh with the signing of Cozzet Kanpur and Cygnett Inn Vrindavan. These strategic additions strengthen the group’s presence in key Tier-II and religious tourism markets, aligning with its larger goal of establishing a 100-hotel portfolio across India.

Cozzet Kanpur, a brownfield project, is scheduled to open by the end of 2025. The hotel will offer 40 well-appointed rooms, two banquet halls with a combined capacity of up to 10,000 guests, a 60-cover all-day dining restaurant, and a lounge bar—making it an ideal venue for weddings, MICE events, and business stays in the industrial capital of North India.

Cygnett Inn Vrindavan is expected to welcome guests by early 2027. Designed for both business and leisure travellers, the property will feature 60 rooms, an 80-cover restaurant, a rooftop swimming pool, a gym, and banquet facilities accommodating 600–800 guests. With this signing, Cygnett’s total inventory in Vrindavan will rise to 100 rooms, following the earlier addition of Cozzet Vrindavan.

“Uttar Pradesh is a critical market in our strategy as we work toward building a 100-hotel network. We plan to launch 10–12 properties across the state in the next 2–3 years,” said Sarbendra Sarkar, Founder & Managing Director, Cygnett Hotels & Resorts.

Both properties will be located near prominent tourist and cultural attractions—Kanpur, known for its industrial strength and historic landmarks, and Vrindavan, the divine city in Braj Bhoomi, renowned for its association with Lord Krishna.

This growth complements Cygnett’s expanding portfolio, which already includes a presence in Ayodhya, further anchoring its position in both spiritual and commercial travel destinations.

Cozzet represents the brand’s smart, value-driven segment, designed for savvy modern travellers, while Cygnett Inn offers full-service comfort and reliability with a midscale focus—each promising warm hospitality and Cygnetture service.

For more information, visit: www.cygnetthotels.com