Awfis

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Awfis
Awfis Space Solutions Ltd
Company typePublic
Founded2015; 9 years ago (2015)
FoundersAmit Ramani
Headquarters
Delhi
,
India
Areas served
India
ServicesCoworking spaces[1]
RevenueIncrease ₹545 crore (US$68 million) (FY23)[2]
Positive decrease ₹−46 crore (US$−5.8 million) (FY23)[2]
Websitewww.awfis.com

Awfis is a coworking space company headquartered in Delhi, India.[3][4] Founded by Amit Ramani in 2015,[5] it operates in 16 cities across India.[6][7]

History[edit]

Awfis collaboration zone

Awfis initially began as a coworking space provider but later expanded into a workspace solutions platform.[8][9] Its first facility opened in Delhi in 2015.[10] By March 2016, it had expanded to include 4,000 seats across Delhi, Mumbai, and Bangalore.[11][12][13] In 2017, Awfis secured $20 million in Series B funding from Sequoia India,[14] followed by another $20 million in Series C funding.[15][16] Then, in August 2019, they raised $30 million in Series D funding led by ChrysCapital.[17]

In 2021, realty firm Prestige Group partnered with Awfis to establish six centers in Bangalore, Hyderabad, and Chennai.[18] In 2021, the company introduced premium workspaces with Awfis Gold. It opened its first premium category center in Mumbai and launched five other Gold centers in Bangalore, Hyderabad, and Chennai.[19][20]

In December 2023, Awfis filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).[21][22] The IPO took place in May 2024, with the shares being listed on NSE and BSE.[23]

References[edit]

  1. ^ Manchanda, Kunal; Upadhyay, Harsh (23 March 2023). "Awfis ends FY22 with Rs 257 Cr revenue and positive EBITDA". Entrackr. Retrieved 8 February 2024.
  2. ^ a b Rudra, Tapanjana (22 December 2023). "IPO-Bound Awfis' Net Loss Narrows To INR 46.6 Cr In FY23". Inc42 Media. Retrieved 19 May 2024.
  3. ^ Raje, Aparna Piramal (21 August 2016). "The new office address". mint. 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. ^ Haidar, Faizan (20 November 2023). "Flexi office companies bet on big revenue boost". The Economic Times. ISSN 0013-0389.
  9. ^ Sathe, Gopal (16 May 2016). "Awfis Wants to Make Finding a Place to Work Less Awful". NDTV.
  10. ^ Nandy, Madhurima (18 January 2018). "Xander's co-working space venture The Hive planning to scale up, go pan-India". mint.
  11. ^ Pol, Sunil (5 March 2016). "Boosting Infrastructure: Setting Up a Meeting Outside Your Office is Not a Pain Anymore". Entrepreneur.
  12. ^ "'Awfis' space start-up in expansion mode". Business Today. 16 March 2016.
  13. ^ Tharyan, P. "Awfis, Awfis...now that sounds interesting!". Motown India.
  14. ^ Pandey, Piyush (25 April 2017). "Sequoia India invests $20 mn. in Awfis Space". The Hindu. ISSN 0971-751X.
  15. ^ "Co-working space heats up! How Awfis is planning to take on WeWork". Moneycontrol. 27 September 2017.
  16. ^ Mohapatra, Debasis (26 August 2018). "Co-working firm Awfis eyes aggressive expansion after fund infusion". Business Standard.
  17. ^ "Exclusive: Marquee PE, VC firms pumping in money to let Rana Kapoor exit Awfis". VCCircle.
  18. ^ Bundhun, Rebecca (15 June 2016). "Awfis app aims to be Uber of commercial real estate in India". The National.
  19. ^ Behrawala, Krutika (3 December 2018). "Co-working spaces are spreading to smaller cities,wooing start-ups in towns". Hindustan Times.
  20. ^ "Pune: Awfis, WeWork India to change co-working space scenario to city". Free Press Journal.
  21. ^ "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.
  22. ^ Manchanada, Kunal (22 December 2023). "Awfis files DRHP; Peak XV to offload 32.7% of its holding". Entrackr. Retrieved 8 February 2024.
  23. ^ "Awfis IPO subscribed over 108 times". The Economic Times. 27 May 2024. Retrieved 28 May 2024.
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