Co-working spaces are one of the biggest examples of disruption in the real estate space. With over 450 co-working places in the country currently, these spaces in India have transformed the office culture of India.
Awfis, a co-working startup founded in 2015, by Amit Ramani recently raised US$30 million in the fourth funding round led by Chrys Capital. Existing investors, Sequoia India and The Three Sisters Institutional Office also participated in the current round. Currently, it has 30,000 seats across 63 centers in 9 cities.
Ramani says that co-working spaces have disrupted the commercial real estate segment. He says, “The Indian commercial real estate sector was highly unorganized with little to no transparency and lack of conducive work environment. Coworking spaces identified a gap which existed in the CRE segment for Grade A workspaces at affordable prices and are providing flexible solutions to their clients.”
With this fundraise, Chrys Capital has ventured into co-working for the first time, “We have a long-established history of investing across financial services, healthcare, life sciences and consumer brands etc. so far. With Awfis, ChrysCapital has now ventured into the co-working sector for the first time.”
Read more here
Join us November 12-15 for the Property Portal Watch Conference Madrid 2019.