With demand for shared office space rising in the country, Sequoia Capital made its intention clear by investing $20 million in Awfis Space Solutions Private Limited, one of India’s biggest companies in this space.
The investment will enable Awfis, founded in 2015 by Amit Ramani to compete with other similar companies. Awfis has managed to become one of the leaders in this segment, with 7,500 seats in 21 centres including Mumbai, NCR, Bengaluru, Hyderabad, Kolkata, and Pune. It aims to use this investment to expand to 35,000 seats in 100 centres.
In addition to having its own space, Awfis also provides meeting rooms in hotels, giving clients the option of booking them through an app.
Started with an investment of $22 million, $11 million each from Amit Ramani and The Three Sisters: Institutional Office, Awfis currently anywhere charges between Rs.3,500 and Rs.13,000 for a seat per month, depending on multiple factors.
It provides freelancers and startups with the option of choosing between flexible seats, fixed seats, cabins, and meeting rooms, providing amenities like printing, video conferencing, cafeterias, high-speed internet, etc.
India has over 140 companies catering to the demand for shared workspaces, with this investment giving Awfis the boost to take on market leader Regus.