Largest managed office space provider in Gujarat, DevX, has raised $ 3 million in capital from prestigious investors like Venus Infrastructure, Navneet Publications, Urmin Family Office, and Bidiwala Family Office.
The funds will be used to expand nationally and internationally and increase the area under administration from 9,00,000 square feet to 2 million square feet, as per reported by Indianweb2.
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Speaking on the funding, Mr Umesh Uttamchandani, Co-Founder – DevX said, “We are excited to have raised funding from discerning investors at a time when we are planning aggressive growth. The funds will be deployed for giving further impetus to our national and global expansion goals. The immense experience in real estate, structural engineering, investment that the investors bring to the cap table will enable us to put in place even stronger governance practices. As Gujarat’s leader in the space, the funding helps us reaffirm our core values of offering world-class office infrastructure with an immersive experience.”
The startup accelerator was designed to support innovative entrepreneurs by covering all their needs. Strategic relationships and services help DevX flourish as an equal partner. Thus, DevX activities are designed to foster synergies and cross-pollinate ideas for collaborative growth and development. The company addresses value chain needs.
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We are proud to be setting standards for the segment to aspire to. With our stated business goal of being the partner of choice for GCCs (Global capability Centres) & ODCs (Offshore Development Centres), I am excited about the future expansions to come. Growth-centric corporates are increasingly opting for managed workspaces, which perfectly meshes with our philosophy of offering best-in-class work-space experiences at competitive pricing, he added.
Opining on the event, Mr Devansh Majithia, Urmin Family Office said, “We are delighted to participate in DevX’s latest funding round, which we view as an Investment in the future of India’s Co-working segment. DevX’s innovative approach to providing an immersive, value drive experience for its tenants perfectly aligns with our own Investment philosophy. “
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About DevX
DevX offers a range of workspaces to suit your needs, including coworking spaces, managed offices, serviced offices, conference rooms, and meeting rooms. DevX has over 25 centers spread across more than 10 cities in India. Their cutting-edge spaces are created to encourage collaboration, creativity, and productivity, giving you the ideal setting for success.
