oworking Space Provider Awfis Raises $20 Mn In Series C Funding

Awfis plans to use the funding to expand its operations to new cities, especially Tier 2 ones

Existing investors Sequoia Capital, TTS:IO, and InnoVen Capital participated in the funding round

The valuation of the company has reached more than $130.8 Mn (INR 900 Cr)

Collaborative coworking space provider Awfis has raised $20 Mn in a Series C funding round from existing investors Sequoia Capital, The Three Sisters: Institutional Office (TTS:IO), and InnoVen Capital.

Awfis was founded by Amit Ramani in 2015, with strategic backing from The Three Sisters: Institutional Office (TTS:IO). It offers customers the facility to book workplaces for durations ranging from an hour to 11 months.

It is being speculated that, with the latest funding, the valuation of the company has reached more than $130.8 Mn (INR 900 Cr).

Awfis plans to use the funding to bolster and deepen the Awfis network across India, launch new and innovative products/services and further enhance the existing technology platform.

Till date, the company has raised about $51 Mn in risk capital, including a $20 Mn Series B round from Sequoia in April 2017.

Abhay Pandey, Managing Director, Sequoia Capital – India said “We are thrilled with the demand side traction for Awfis product especially from SMEs and Corporates, thereby validating our hypothesis of a massive market opportunity. Awfis has generated tremendous momentum with its unique supply acquisition models. It is re-creating the workspace landscape for the benefit of both tenants and landlords.”