ChrysCapital joins $30m round for Indian co-working space Awfis

Sequoia Capital and Three Sisters, a family office, also participated. The fresh capital is expected to be focused on new product developments as well as expansion efforts in tier-one cities.

“We’ve been pretty prudent with the capital raise that we have been undertaking, and the capital has been deployed very judiciously,” Amit Ramani, CEO of Awfis, told The Economic Times. “This round allows us to expand our capacity to over 100,000 seats by 2020, and 200,000 seats by 2022.”

Founded in 2015, Awfis markets itself as a workspace ecosystem, claiming a pan-India network of 55 physical office space locations with more than 25,000 seats. The company’s technology platform enables users to book flexible and fixed work-desks, private cabins, meeting rooms and business centers on a real time basis for periods ranging from one hour to a full year.

Awfis raised a $20 million Series C round in 2018 with contributions from Sequoia, Three Sisters, and InnoVen Capital India, which was extended with a $3.6 million commitment earlier this year with support from DOIT Urban Ventures and RAB Enterprises, according to AVCJ Research. Sequoia also led a $20 million Series B in 2017.

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• Topics
• South Asia
• Support services
• Expansion
• India
• ChrysCapital Management
• Sequoia Capital
• professional services