DevX Raises $3 Million in Latest Funding Round for Coworking Spaces
- ByStartupStory | April 24, 2023
DevX, a leading provider of coworking spaces, has raised $3 million from prominent investors, including Urmin Family Office, Bidiwala Family Office, Navneet Publications, Venus Infrastructure, and Ducon. The company plans to use the funds to expand its footprint both nationally and globally, with the aim of growing its coworking space area from the current 900,000 sq. feet under management to two million square feet. This move will position DevX as a key player in the coworking space industry.
Umesh Uttamchandani, Co-Founder of DevX, expressed excitement about the company’s recent fundraising, stating that the funds will help support their aggressive growth plans both domestically and internationally. With the support of prominent investors who bring vast experience in real estate, investment, and structural engineering, DevX plans to implement stronger governance practices to support their expansion goals.
DevX, a provider of coworking spaces and accelerator support to startups, was established in September 2017 and now boasts over 25 centers in 11 cities across India. Devansh Majithia, of the Urmin Family Office, expressed excitement about the company’s latest funding round, calling it an investment in India’s future coworking industry. DevX’s unique approach to delivering a valuable, immersive experience for its tenants aligns perfectly with their investment philosophy. The company plans to expand and consolidate its presence across India by the end of 2023.
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