Co-working office space provider awfis plans to expand its businesses to six Tier II cities this year. These cities are Kochi, Bhuvneshwar, Chandigarh, Indore, Ahmadabad and Jaipur.
awfis also plans to establish 100 more centres with 35,000 plus seats across Mumbai, NCR, Bengaluru, Chennai, Hyderabad, Kolkata, and Pune in the next 18 – 24 months.
awfis was jointly incubated by Amit Ramani and The Three Sisters: Institutional Office (‘TTS: IO’) with a total capital investment of USD 11 million in April 2015. Backed by the largest venture capital firm Sequoia, awfis raised USD 20 million in 2017 which is considered as the biggest instances of fundraising in the co-working segment.
awfis made a significant impact in the Indian co-working space right when the start-ups and SMEs saw a massive surge in India given the influx of foreign funding and push from the government. The real estate sector saw inflexibility and lack of transparency for the longest period. Turning this into an opportunity, awfis started its business as solution providers in the commercial real estate market. In India, SME’s and start-ups face challenges of having decent infrastructure at cost effective prices.
awfis is the only shared workspace player in India which has a nation-wide network of 50 centres across 8 cities and micro markets with 19000 seat capacities in New Delhi, Mumbai, Pune, Hyderabad, Bengaluru, Kolkata etc.