Hanto Workspaces, a co-working space provider, is expanding in major Indian cities by leasing 1 lakh sq. ft. (approximately 9,290 sqm) in Bengaluru, adding to its existing portfolio. Plans are also in place to launch 2 lakh sq. ft. (approximately 18,580 sqm) of new co-working spaces in Hyderabad and Pune. This expansion responds to the growing demand for flexible workspaces among startups and freelancers. Following a successful seed funding round of INR 15 crore (approximately USD 1.8 million) in November 2023, Hanto aims to achieve over INR 700 crore (approximately USD 84.3 million) in revenue by 2028.
Hanto Workspaces, a provider of co-working spaces, is expanding its presence in major Indian cities. The company recently leased 1 lakh sq ft (approximately 9,290 sqm) of workspace in Bengaluru, adding to its existing portfolio in the city. This expansion comes alongside plans to launch new co-working spaces in Hyderabad and Pune, totaling an additional 2 lakh sq ft (approximately 18,580 sqm).
Hanto Workspaces is capitalising on the rising demand for flexible workspaces in India. Many businesses, especially startups and freelancers, are opting for co-working spaces due to their affordability, convenience, and sense of community. Hanto Workspaces' high occupancy rate in Bengaluru, reaching 90% even with newly launched properties, highlights this growing trend.
Hanto Workspaces secured INR 15 crore (approximately USD 1.8 million USD) in seed funding in November 2023. This investment, led by prominent angel investors, will fuel their growth strategy and expansion across key Indian cities. The company aims to achieve a revenue target of over INR 700 crore (approximately USD 84.3 million USD) by 2028, reflecting their ambitious vision for the future.
Hanto Workspaces' expansion plans will increase competition in the co-working space market, potentially leading to more competitive pricing and a wider range of options for businesses. This growth also contributes to the overall development of India's flexible workspace sector, which is expected to reach a market size of USD 13.3 billion (approximately INR 990.7 billion INR) by 2025 [according to a report by JLL India].
Hanto Workspaces' focus on expansion aligns with the growing demand for flexible work solutions in India. Their success will depend on their ability to provide high-quality workspaces of 1 lakh sq ft and 2 lakh sq ft in size, strong community building, and competitive pricing. As the co-working space market continues to evolve, Hanto Workspaces is poised to play a significant role in shaping the future of work in India.
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