Hyderabad-headquartered iKeva raises funds for expansion of co-working spaces in India

iKeva, Hyderabad-headquartered co-working infrastructure provider, has raised an undisclosed amount of funds from Meenakshi group. The funds have been raised by the company to help its expansion of co-working spaces across major metros in India.

iKeva is planning to set up 15 new co-working centres over the next 12 months. The company had launched its first centre in Banjara Hills, Hyderabad, in 2013. Since then, it had added 8 more centres across 5 major metro cities, including Bengaluru, Chennai, Gurgaon, Hyderabad, and Mumbai. The co-working infrastructure provider will be opening two more centres in Hyderabad over the next quarter. 

Monika Misra, Co-Founder of iKeva, said, "This industry has tremendous room for growth, the fresh infusion of funds will help us speed up our business expansion this year, and foray into new fast-growing cities." 

Mahesh Katragadda, Director, Meenakshi Group, stated, "Collaborative work-spaces are displaying remarkable growth and we recognise strong synergies between the co-working model and traditional real estate."

The co-working spaces of iKeva range from 10,000-15,000 square feet. It provides services and amenities like flexible fully furnished workspaces, professional team, high-speed internet, high-end IT, reprographics, among others.