India Accelerator's Pioneering MySOHO Acquisition: A New Era for Co-Working Spaces

India Accelerator (IA) has successfully acquired the co-working enterprise MySOHO as part of a strategic cash-equity deal. Despite the acquisition's significance, the financial specifics were not revealed by the companies involved.

MySOHO currently operates 18 centres spread over eight cities, utilizing over 90,000 sq. ft. of workspace. The company, almost at full capacity with a 90 percent desk occupancy rate, offers 1,800 desks. Ashish Bhatia, CEO of India Accelerator, stated that the acquisition symbolizes a critical advancement in IA's mission to serve as a full-service partner for startups. He emphasized the need for ecosystems that foster creativity, collaboration, and resilience for startup founders, beyond mere capital and mentorship.

India Accelerator has ambitious plans to further grow its co-working footprint to over 45 hubs in more than 30 cities, cumulatively covering 625,000 sq ft of workspace. These hubs would support 12,500 seats and host extensive startup-focused clinics, mentorship programs, and networking opportunities for investors. Real estate expert Cushman & Wakefield noted that India leads the flexible office market in the Asia-Pacific region, with projections indicating significant growth in the sector.

(With inputs from agencies.)