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One of the early Startups in the Shared Working Space segment, Awfis has raised $20 Mn (INR 130 Cr) from Sequoia Capital. The Startup is functional with over 21 workplaces across the National Capital Region (NCR), Bengaluru, Mumbai, Hyderabad,firm The Pune and Kolkata and with the seat count of 7,500. This is the biggest round of funding in the segment of shared workspaces so far and Sequoia Capital is going solo with it. The round is bigger than all the capital raised by the top 10 shared spaces Startups in India.
The funds raised shall be utilised to aggressively expand the company’s office spaces across major cities in India. The Startup is going to compete with its global competitor We Work which has already invaded Indian Market with its founder Adam Neuman speaking about the company’s roadmap in the Startup India event organised by DIPP, Govt of India.
Amit Ramani founded Awfis in the year 2015 along with the The Three Sisters – a family-run investment firm managed by Yes Bank founder Rana Kapoor’s daughters. The initial capital of $11 Million is invested by both the founding entities. According to the company’s vision “The aim was to introduce a ‘Sharing Economy’ business model where one should be able to make ‘Just-in-time’ bookings for meeting rooms & work desks and enjoy a flexible, hassle-free, productive work environment. Awfis is backed by 100+ strong minds with deep expertise in hospitality, real estate, technology, design and operations.”
The Global leader in the Co Working space We Work has also raised an amount of $300 million from Softbank to expand its operations in the new markets like India. Read More