IndiQube leases a 1,037-seater managed workspace to Ninjacart in Bengaluru

IndiQube, a prominent provider of co-working spaces, has entered into a leasing arrangement, allocating a 1,037-seater managed workspace to Ninjacart, an agritech startup based in Bengaluru. The transaction, managed and advised upon by Colliers India, remains discreet concerning its financial intricacies. This strategic decision aligns with Ninjacart's expansion ambitions into diverse sectors like commerce and fintech, all with the overarching goal of empowering stakeholders throughout the agricultural value chain, encompassing farmers, traders, retailers, importers, and exporters. At present, Ninjacart operates with a workforce of 1,300 spread across 70 locations and envisions an expansion to 200 cities and towns in the ensuing year.
Established in 2015, Ninjacart distinguishes itself through the application of cutting-edge technology to optimize the agricultural supply chain. This technological approach has proven transformative, benefiting diverse participants within the agricultural value chain, ranging from farmers and traders to retailers, importers, and exporters.
With robust investor backing propelling Ninjacart's upward trajectory, the company recognized the imperative of expanding its office space in Bengaluru. Colliers India was enlisted to facilitate the identification and transaction of a suitable office asset. Following a comprehensive market analysis, Colliers experts recommended a managed office space over a traditional one, citing the cost-effectiveness and flexibility inherent in the co-working segment.
After scrutinizing various viable options, Ninjacart finalized an IndiQube-managed office space situated within the Outer Ring Road corridor. This facility is not only strategically positioned but also equipped with amenities such as a gym, childcare facilities, and a food court, enhancing the overall workspace experience.
Start-ups seeking a flexible work environment with premium amenities have driven a pronounced uptick in the demand for co-working spaces in Bengaluru, effectively mitigating rental costs. Bengaluru stands at the forefront among cities in the Asia-Pacific (APAC) region with the highest available stock of flexible office space, according to a CBRE report. In the realm of real estate transactions, the 'India Real Estate Q3' report by Knight Frank indicates a notable 16.1 million square feet of office transactions during the July–September quarter. Bengaluru, a key contributor, witnessed a new office supply of 4 million square feet in 2023, further affirming its status as a burgeoning business hub.

Next (Peak XV Partners divests 1.5 percent in Aptus Value Housing for Rs 213 crore)

IndiQube leases a 1,037-seater managed workspace to Ninjacart in Bengaluru

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