US-based Venture X, which provides flexible workspace globally, has entered into the Indian market with opening of two centres in Gurugram with a total seating capacity of 1,200 seats.
The company plans to expand across all the major Tier I and Tier II cities.
Venture X facilities in Gurugram will offer flexible, premium coworking space options for individuals and companies, including established businesses, entrepreneurs, small and medium-sized enterprises.
Venture X is an affiliated brand of UFG coworking division CoworksTM which is the largest privately-owned franchisor in the coworking industry having more than 200 locations opened/signed up globally. Venture X has revealed its first two premium locations in Gurugram with a cumulative 1,200 seats spread across 45,000 and 16,500 square feet space at Sector 67 and 44, respectively.
"We are excited to bring the brand Venture X to India, a blend of boutique hotel and modern office styles, with an elevated level of design. We have invested around USD 5 million in the Indian market and plan to invest USD 2-3 million by the year 2023," said Anil Lakra, India Partner, Venture X.
Post the pandemic, he said flexible office spaces are very much in demand.
Rahul Kapur, India Partner of Venture X, said: "We are delighted to get into a partnership with the UFG brand Venture X here in India. We have the master licence for the India region. We have currently opened two locations and would grow to 8-10 across India by end 2023."
Demand for co-working office space jumped over two-fold in the last fiscal year at 90,200 desks across seven major cities as flexible workspaces rose in prominence after the second wave of the Covid pandemic, according to a joint report by JLL India and Qdesq. Over 37,300 seats were leased out in the 2020-21 financial year across the seven cities.
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