Co-working space provider iSprout raises $4-M in pre-Series A round

iSprout, a Hyderabad-headquartered co-working space provider, has closed a pre-Series A funding round of USD 4 million from private investors. A substantial part has come in from a leading Infrastructure company's director. After the round, over 75% ownership in iSprout will be with the four co-founders and this investor. The funding has been used to strengthen presence in existing markets. iSprout is now looking to raise a Series A funding round of USD 10 million to capitalize on the expansion of the managed office space market. The upcoming funding will be used by the brand for expansion in existing markets such as Hyderabad, Bengaluru, Chennai, Pune as well as new markets such as NCR, Mumbai and Kolkata. The brand expects to surpass 1 million sq.ft by the end of this year.