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Mumbai-based Awfis Raises $20 million Funding from Sequoia India

awfis raises funding

26 April 2017, India:

Mumbai-based Awfis Space Solutions has raised $20 million from Sequoia India in the latest round of funding. The firm plans to utilize the funds for expansion of business and enhancing the technology.

Awfis currently runs 21 shared workspaces in Delhi NCR, Bengaluru, Mumbai, Pune and Hyderabad, is looking to open 100 co-working spaces in the next couple of years, increasing the seat counts in its centers from 7,500 to 35,000, the company has said.

“With this capital raise, we should be able to increase our seat capacity to over 25,000 in 12 months along with 80 centers. In the next six months, we will grow to 4x of our current revenues,” said Ramani. The company is targeting a tenfold jump in revenue growth by 2017-18 end,” Awfis CEO Amit Ramani told ET.

“No one sits at their desks and gets their work done. Today’s workforce is mobile and we want to cater to this set of growing professionals in the country with a shared economy platform like ours,” Ramani told TOI.

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