BIG BOX Ventures Private Limited (BIG BOX), a Pune-based managed workspace solution provider, has received a multi-million-dollar investment from a top publicly listed company for a minority stake. BIG BOX will use the funds to enter new markets and increase its presence at several new centres in Pune to add 20,000 additional desks by the year’s end.
According to Sainath S. Hon, the company’s founder, this Series-A funding demonstrates the institutional investor’s belief in the growth of the co-working and managed workspace industries. He continued, “We also plan to raise an additional $5 million through debt and internal accruals. Over the next 3–4 years, we plan to provide managed workspaces for more than 50,000 professionals and increase our footprint to 5 million square feet.” BIG BOX is in the advanced stages of signing 200,000 square feet of Grade A office space across several projects in Pune and is exploring Bengaluru, Hyderabad, and the NCR to expand its portfolio.
According to the spokesperson for the investment organisation, “This investment opens doors for growth through this collaboration and allows our organisation to be a part of one more vertical and enter one of the world’s fastest-growing flexible office space markets.”
With more than 2,500 workstations currently operating across 14 locations in Pune, BIG BOX continues to provide an unmatched employee experience, a strong connectivity backbone, extensive employer workspace controls, and access to the best marketplace of managed workspaces. BIG BOX currently provides services to over 20 different organisations through its centres, primarily high-growth start-ups and large corporations like Kelly Group, Zamil Steel, Minda Industries, Skill Lync, Oscar FX, SpanIdea Systems, KSolves, Droneacharya, and others.
As large corporate occupiers now make up about 50% of flexible workspace clients, the co-working phenomenon has gained more acceptance among Indian occupiers. Many such companies have aggressively expanded across major cities in the nation in addition to entering Tier II cities, contributing to this segment’s over 300% growth over the past 3 years.
BIG BOX is a fast-growing managed workspace company that provides workspace as a service to enterprises and start-ups. It takes pride in innovation and building long-term relationships with its clients and partners. It provides occupiers with flexibility, speed, security, and a great workplace experience—all while driving value for the assets.