The development signals consolidation in the fast-growing coworking segment, which is accounting for 15-20 percent of the total office space leasing across major cities. Recently, Oyo acquired Innov8 to enter into this business.
After the acquisition, Bengaluru-based CoWrks will rename the combined entity to CoWrks Go.
At present, CoWrks has 25 operational centers and 25,000 members spread across two million sq ft area with presence in major cities.
Founded by Sakshi Khanna in 2017, The UnCube provides coworking space for professionals on transit by partnering with restaurants and cafes. It has 2,500 members working across 200 locations in seven cities such as Delhi, Mumbai, Bengaluru, Hyderabad, Pune, Indore, and Chandigarh.
Under the new brand CoWrks Go, the company plans to expand to over 20,000 locations.
CoWrks CEO Abhishek Goenka said, "We realized that the business complements our current offerings and we understand the importance that it holds for enterprises. Organisations seek the flexibility of operations and we are in a space now to extend the opportunity to enterprises to be productive anywhere, even when in transit."
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