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Awfis
Company typePrivate
Founded2015; 9 years ago (2015)
FoundersAmit Ramani
Headquarters
Delhi
,
India
Areas served
India
ServicesCo-Working Spaces[1]
Websitewww.awfis.com

Awfis is a co-working space company headquartered in Delhi, India.[2][3][4] Founded by Amit Ramani in 2015,[5] it operates in 17 cities across India.[6][7] In September 2023, the company announced that it would launch an initial public offering (IPO) by 2024.[8][9][10] Later, in December of the same year, it filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for the IPO and announced its plan to go public.[11][12]

History

Before establishing Awfis, Amit worked with the design company Nelson in the US before returning to India in 2008. In 2010, he acquired Nelson’s business in Asia, obtaining rights for 14 countries.[13] This led to the creation of his startup, Awfis.[14] The company received $10 million in seed capital,[15] which included investment from The Three Sisters: Institutional Office,[16] a family-run investment firm managed by Yes Bank founder Rana Kapoor’s daughters.[13][17] Awfis initially began as a co-working space provider but later expanded into a workspace solutions platform.[18][19] Awfis opened its first facility in Delhi in 2015.[20] By March 2016, it had expanded to include 4,000 seats across Delhi, Mumbai, and Bangalore.[21][22][15]

In August 2019, Awfis raised $30 million in Series D funding led by ChrysCapital.[23] In 2021, realty firm Prestige Group partnered with Awfis to establish six centers in Bengaluru, Hyderabad, and Chennai. In 2021, the company entered the Premium Workspace Segment with the launch of Awfis Gold. It opened its first premium category center in Mumbai and currently operates five other Gold centers in Bengaluru, Hyderabad, and Chennai.[24][25]

References

  1. ^ "The Top 60 Startup Co-Working Spaces In India". 12 October 2016. Retrieved 5 October 2018.
  2. ^ Raje, Aparna Piramal (21 August 2016). "The new office address". mint. Retrieved 8 February 2024.
  3. ^ "Noida lift crash: Five employees of co-working space provider arrested for negligence". The New Indian Express. 23 December 2023. Retrieved 8 February 2024.
  4. ^ "Lift co's asst VP among 5 held for elevator free fall". The Times of India. 24 December 2023. ISSN 0971-8257. Retrieved 8 February 2024.
  5. ^ Sabharwal, Punita (28 September 2019). "Is Generation Z Redefining the Indian Workspace?". Entrepreneur. Retrieved 8 February 2024.
  6. ^ Doley, Kunal (20 November 2016). "Plug & work". Financialexpress. Retrieved 8 February 2024.
  7. ^ "Awfis adds 8,000 seats in south India". The Times of India. 11 September 2023. ISSN 0971-8257. Retrieved 8 February 2024.
  8. ^ Upadhyay, Kunal Manchanda & Harsh (23 March 2023). "Awfis ends FY22 with Rs 257 Cr revenue and positive EBITDA". Entrackr. Retrieved 8 February 2024.
  9. ^ Rudra, Tapanjana (22 December 2023). "IPO-Bound Awfis' Net Loss Narrows To INR 46.6 Cr In FY23". Inc42 Media. Retrieved 8 February 2024.
  10. ^ "IPO Alert! WeWork-like company with 121 co-working spaces in 16 cities files for IPO - Details". ET NOW. 24 December 2023. Retrieved 8 February 2024.
  11. ^ Manchanada, Kunal (22 December 2023). "Awfis files DRHP; Peak XV to offload 32.7% of its holding". Entrackr. Retrieved 8 February 2024.
  12. ^ Kashyap, Hemant (21 September 2023). "Peak XV-Backed Awfis Looking To Go Public, Shortlists 3 Investments Banks". Inc42 Media. Retrieved 8 February 2024.
  13. ^ a b Bundhun, Rebecca (15 June 2016). "Awfis app aims to be Uber of commercial real estate in India". The National.
  14. ^ "Co-working space heats up! How Awfis is planning to take on WeWork". Moneycontrol. 27 September 2017.
  15. ^ a b Tharyan, P. "Awfis, Awfis...now that sounds interesting!". Motown India.
  16. ^ Mohapatra, Debasis (26 August 2018). "Co-working firm Awfis eyes aggressive expansion after fund infusion". Business Standard.
  17. ^ Pandey, Piyush (25 April 2017). "Sequoia India invests $20 mn. in Awfis Space". The Hindu. ISSN 0971-751X.
  18. ^ Haidar, Faizan (20 November 2023). "Flexi office companies bet on big revenue boost". The Economic Times. ISSN 0013-0389.
  19. ^ Sathe, Gopal (16 May 2016). "Awfis Wants to Make Finding a Place to Work Less Awful". NDTV.
  20. ^ Nandy, Madhurima (18 January 2018). "Xander's co-working space venture The Hive planning to scale up, go pan-India". mint.
  21. ^ Pol, Sunil (5 March 2016). "Boosting Infrastructure: Setting Up a Meeting Outside Your Office is Not a Pain Anymore". Entrepreneur.
  22. ^ "'Awfis' space start-up in expansion mode". Business Today. 16 March 2016.
  23. ^ "Exclusive: Marquee PE, VC firms pumping in money to let Rana Kapoor exit Awfis". VCCircle.
  24. ^ Behrawala, Krutika (3 December 2018). "Co-working spaces are spreading to smaller cities,wooing start-ups in towns". Hindustan Times.
  25. ^ "Pune: Awfis, WeWork India to change co-working space scenario to city". Free Press Journal.
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