Co-working spaces startup iSprout has closed a Pre-Series A funding round of $4M from private investors.
A director of "one of India’s leading infrastructure companies" has invested a substantial amount in the funding round. Post the investment, 75 percent ownership of iSprout is with the four co-founders and the aforementioned investor.
iSprout will utilize the Series A funding round of $10 million to capitalize on the expansion of the managed office space market. The projected funding will be used for the growth and expansion of their business assets and a big wedge of the amount will also be invested to build proprietary technology to automate critical processes.