Awfis Space Solutions Pvt. Ltd which is now South Asia’s largest network of collaborative co-working spaces, has received an investment of USD 20 million from
Sequoia India, recently. The funds will be used to grow its network of centers, launch new and innovative products/services and further enhance the existing technology platform. It’s international competitor WeWork launches in the Indian market shortly, starting with
Bengaluru and then expanding to Mumbai.
Working towards achieving its target of having an Awfis centre within a 10 minutes driving radius in each of the key metros, the company plans to establish 100+ centres with 35,000+ seats across Mumbai, NCR, Bengaluru, Chennai, Hyderabad, Kolkata, and Pune in the next 24 months.
Amit Ramani – Founder & CEO, Awfis told Business Insider, “To expand at a rapid pace,we have embraced a joint venture model where 75% of our centers are managed by us but owned by others.We have 500 companies with us, currently ranging from India’s leading startups/MSMEs to Fortune 500 companies, forming the largest co-working community in India.”
The co-working has a lot of features like:
• A network of over 7,500+ seats across 21 centers in 8 cities across India
• Strong demand from an eclectic community of entrepreneurs, SMEs, freelancers and business corporates who have helped create a thriving community of over 5,000+ Awfis members
• An average 90%+ occupancy across its established centers
• A unique, ‘Just-in-Time’ booking facility through its customized mobile app and website
Apart from its own proprietary centers, Awfis also has a unique, asset light ‘managed aggregation’ model - partnering with space owners who have unused commercial space and transforming them into suitable places to work for the Awfis community.
The company has a successful shared economy business model that not just provides a network of ready to use work spaces across India, but also offers value driven services that can be booked ‘just-in-time’ through its website and mobile app. The Awfis Rewards program provides its members access to exclusive offers from 100+ renowned partners (including Amazon Web Services, Oyo Rooms, Hard Rock Café, SRL Diagnostics, etc) just by registering a seat.
Their newest innovation is truly set to revolutionize mobility as they are even allowing their partner companies to work while travelling by remodeling car models like
Tata Innova to allow people to work inside their cars, enabled by facilities like desk, printers and even a coffee machine.
That’s innovation at its Indian best!
