Coworking Startup 91Springboard Ropes In Anshu Sarin As New CEO

SUMMARY

With Sarin's appointment, cofounder Anand Vemuri, who was holding the position of CEO, will take up the role of executive chairman and help build strategic partnerships for the venture

Before joining 91Springboard, Sarin was the CEO of Berggruen Hotels, which got acquired by Lemon Tree Hotels in November 2019. She played a key role in this strategic sale

91Springboard offers coworking spaces for startups, freelancers, and enterprises in India and competes with the likes of WeWork, Workly, and myHQ

Coworking startup 91Springboard has appointed Anshu Sarin as its new chief executive officer (CEO). With her appointment, cofounder Anand Vemuri, who was holding the position of CEO, will take up the role of executive chairman and help build strategic partnerships for the venture.

Founded in 2012 by Anand Vemuri, Deepak Sharma, Pranay Gupta, Pushpendra Thakur and Varun Chawla, 91Springboard offers coworking spaces for startups, freelancers, and enterprises in India. 91Springboard directly competes with the likes of WeWork, Workly, and myHQ.

Previously, Sarin was the CEO of Berggruen Hotels, which got acquired by Lemon Tree Hotels Ltd. in November 2019. She played a key role in this strategic sale.

“Despite the challenges brought on by the pandemic, our team’s dedication and innovation have positioned us for extraordinary growth. As we stand at the threshold of an exciting new phase, I am honoured to transition to the role of Chairman and entrust the future of the organisation to Anshu Sarin, our new CEO,” Vemuri said.

He believes that Sarin’s experience will drive 91Springboard towards growth. “Together, we are determined to take 91Springboard to even greater heights and continue making a lasting impact in the coworking ecosystem,” he added.

The startup is reportedly planning to raise $30 Mn in funding to fuel its growth and strengthen its portfolio, owing to the high demand for managed and flexible office spaces.

Last year, 91Springboard announced that it bagged INR 45 Cr from its existing investors. Back then, the startup stated that it would use the funds to develop new-age and customised solutions for its existing customers.

The startup is backed by investors like FreakOut Holdings, Anthill, 33 Investments, NITI Aayog, Sandway Investment Ltd, Pearl Brook Holdings, AMA Holdings, Silo Holdings, and Al Nour, among others.

In December last year, WeWork India secured INR 550 Cr to achieve growth and consolidate business opportunities.

Last month, a Pune-based coworking space provider, Friyey, shut down due to the ongoing funding crunch in the Indian startup ecosystem.

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