Awfis Raises USD 30 Mn In Funding Led By ChrysCapital

NEW DELHI: Co-working operator Awfis has raised $USD 30 million from ChrysCapital and its existing investors Sequoia India and The Three Sisters Institutional Office (TTS:IO) in series D funding, the company said in a statement.  

This fresh round of funding will be used to expand the company’s presence in new cities to make ‘futuristic workspaces’. The funds will be utilised to introduce innovative products and services. 

Currently, Awfis has 30,000 seats across its 63 centres in nine cities. It has a member base of over 1,500 companies and 25,000 professionals. 

Awfis has now raised USD 81 million including this round. 

Awfis Founder and CEO Amit Ramani said, "The additional capital raised will support us in expanding our footprint in India with more than 400 centres and 2,00,000 seats over the next 36 months. Our focus is to fortify our base in Tier I cities and further enter newer market with expansion into Tier II cities." 

Kshitij Sheth, Vice President - ChrysCapital, said that co-working has changed the way commercial realty business is conducted globally and has picked up a lot of steam in India, with Awfis leading the disruption. 

“Sequoia has invested in companies capturing the shared economy market across the world - Airbnb, Uber and Ola are just some examples," said Ishaan Mittal, Principal, Sequoia Capital India Advisors.