Edtech unicorn upGrad has taken up 1,000 seats in IndiQube’s co-working centres in Bengaluru and Hyderabad, one of the most significant flexible workspace transactions this year. In Bengaluru, upGrad has taken up 850 seats, spread across two floors, in IndiQube Lexington, where startups such as Ola Electric and Navi Technologies operate. In Hyderabad, the edtech startup has occupied 150 seats in IndiQube Pearl, situated in the tech hub of Gachibowli.

The Mumbai-based online higher education platform has been on a hiring and acquisition spree and is looking to integrate its multiple teams in flexible offices across cities. Bengaluru will be an important centre for the company’s operations and regional centres such as Hyderabad that will have local teams.

• Just Dial Stocks Skyrocketed 15% On Announcement of Q4FY24 Business and Financial Updates
• Swing-Trading 101: Capturing Market Moves with Flexibility
• Jubilant Pharmova Shares Climbed 8% On Announcing Ceastion of Loss Making Arm’s Operations in Salisbury, USA
• Paytm Shares Gained 4.5% on NPCL’s Approval To Create New VPAs with Axis, HDFC, SBI, and Yes Bank
• Ambuja Cements Shares Gained 3% On Receiving Additional Rs 8,339 Crore Investment From Adani Group

Flexible workspaces have seen significant momentum, with many companies announcing hybrid work plans for their employees through a multi-city format. Edtech firms Byju’s and Unacademy, too, have been taking up space as they raise funding, expand teams and acquire new companies.

“The demand momentum for managed offices has been strong, and the requirements for flexible space have become bigger. The requirement for 1000 plus seats is becoming mainstream. There has been a steady increase in office space enquiries from well-funded startups and unicorns in particular, along with large enterprises,” Rishi Das, co-founder, IndiQube, said in an interview.