India is poised to be the third largest economy by 2030, with startups and unicorns helping drive growth significantly. In an age where almost every service can be obtained as a solution, startups no longer work out of backyard garages but from leased-out coworking office spaces. Building on this trending idea, IndiQube offers an innovative end-to-end space management solution that has quickly garnered attention in the proptech sector.
Having spearheaded a couple of startups earlier, Meghna Agarwal, Co-Founder, IndiQube, had a first-hand understanding of what startups and growth companies struggle with and require.
While looking for a space for a startup, Agarwal couldn’t find one for her actual requirement of 50,000-60,000 sq ft and ended up taking a property measuring 100,000 sq ft. This seasoned entrepreneur leased outthe balance space, majorly to startups and offshore development centres. These further utilised her food and transportation services at a fee, services that Agarwal found were easy to scale up to accommodate their added demands. “In 2014, we needed back the space for expanding our operations and had to ask these companies to vacate,” she shares. “They, in turn, asked us to take a building for them and manage it, as it was not their forte.”
The first building the founders got housed 250,000 sq ft of usable space on Bengaluru’s Outer Ring Road. Within three months, the entire building was leased out, which came as an unexpected shock. With it came a stark realisation: “Either you have tech parks that house big companies or smaller offices run and managed by people with no proper background. Between these two, there is a huge gap where growth companies fit in and a large market for us to tap into.”
Soon enough, Agarwal had a second building of 80,000 sq ft added to the offering, which KPMG took over within a month. With the idea successfully gaining traction, IndiQube was incepted in 2015.
