[Funding Alert] Awfis raises $30M in Series D from ChrysCapital, Sequoia, Three Sisters

Awfis will use these funds to further its core commitment towards building the largest network of futuristic workspaces, to introduced new and innovative products and services, and to establish fresh micro-markets in India.

New Delhi-based coworking space provider Awfis has raised $30 million in its fourth round of funding from marquee investor ChrysCapital. The round also saw participation from its existing investors Sequoia India and The Three Sisters Institutional Office.

According to the startup, this fundraise will be utilised to further Awfis' core commitment towards building the largest network of futuristic workspaces. The company is also planning to introduce new and innovative products and services, to establish fresh micro-markets in the country.

Amit Ramani, Founder and CEO of Awfis said,

" The additional capital raised will support us in expanding our footprint in India with 400+ centres and 200,000 seats over the next 36 months. Our focus is to fortify our base in Tier-I cities and further enter a newer market with expansion into Tier-II cities."

Amit Ramani, Founder and CEO, Awfis

Kshitij Sheth, Vice President of ChrysCapital said,

"We are thrilled to partner with Amit and his team and invest in Awfis. Coworking has changed the way commercial real estate business is conducted globally and has picked up a lot of steam in India, with Awfis leading the disruption. ChrysCapital is extremely optimistic about Awfis’ growth and strongly believes in Amit and his team and their commitment to create a modern, economical, hassle-free, conducive ecosystem for India’s growing workforce."

In August 2018, Awfis had raised $20 million in its Series C round from Sequoia India, The Three Sisters Institutional Office and Innoven Capital, which was in August of last year.

The coworking space provider claims to have 30,000 seats across 63 centres in nine cities with a member base of more than 25,000.

Awfis services more than 1,500 companies with a clientele portfolio across enterprises like

Syngenta, Dun & Bradstreet, Duff & Phelps, Hinduja Global Services, Vodafone, Reliance, Hitachi,

Blazeclan, Syngenta, Zomato and Practo. At present, it has a total real estate portfolio of two million sq ft across India.

Awfis competes with WeWork, Cowrks, 91Springboard, B-hive, and Smartworks, among others.

(Edited by Saheli Sen Gupta)


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