IndiQube Leases a 1,037-seat managed workspace to Ninjacart in Bengaluru

IndiQube, a co-working space provider, has leased a managed workspace with a capacity of 1,037 seats to the Bengaluru-based agritech start-up, Ninjacart. The deal was transacted with the help of Colliers India. Ninjacart plans to use this new space to boost its expansion plans, as it looks to extend its reach into new verticals such as commerce and fintech. This expansion is aimed at empowering agri-citizens across the value chain which includes farmers, traders, retailers, importers, and exporters. Currently, the start-up has 1,300 employees working from 70 locations, with plans to expand to 200 cities and towns in the coming year.

"Our team has gone the extra mile to ensure that this state-of-the-art new office space enhances employee productivity and fosters creativity and innovation, all the while keeping Ninjacart’s brand ethos at its heart. This reinforces our belief that IndiQube is an ideal workspace destination for thriving start-ups and unicorns in their growth journey", said Meghna Agarwal, Co-founder of IndiQube.

Since its inception in 2015, Ninjacart has been leveraging cutting-edge technology to enhance the efficiency of the agricultural supply chain for various stakeholders ranging from farmers and traders to retailers, importers, and exporters. "The collaboration with Colliers and Indiqube proved transformative. Opting for Indiqube, endorsed by Colliers, proved to be a strategic decision that significantly enhanced our office space experience – it simply feels perfect", said Sharath Loganathan, Co-founder at Ninjacart.

Ninjacart, which is backed by several investors, has been on a steady growth path. With the aim of expanding its office space in Bengaluru, the company appointed Colliers India to identify and transact a suitable office asset. After conducting a market analysis, Colliers' experts proposed a managed office space instead of a conventional one, citing the cost-effectiveness and flexibility offered by the co-working segment. Following an evaluation of several viable spaces, the company has chosen an IndiQube-managed office space located within the Outer Ring Road corridor. The space is equipped with amenities such as a gym, childcare facilities, and a food court.

“Amid supply constraints and scaling rentals in the sought-after Bengaluru market, we were confident that a managed space would be best suited for the present business needs and to fetch long-term gains. Our team conducted a thorough market study before narrowing it down to a couple of commercial assets and finally identifying IndiQube as the apt office space,” said Arpit Mehrotra, Managing Director, Office Services, South and Head of Flex, Colliers India.

The demand for co-working spaces has increased in Bengaluru due to startups seeking a flexible work environment with premium amenities, while also reducing rental costs. According to a CBRE report, Bengaluru has the highest available stock of flexible office space in the Asia-Pacific (APAC) region.