DevX aims to double co-working office portfolio to 2 mn sq ft
DevX is looking to double its portfolio to over 2 million sq ft over the next two years with focus on tier-2 and -3 cities, as adaption of distributed workforce option by larger enterprises leads to a rise in demand, said a top company executive.
The company currently has operational centres in key cities like Mumbai, Pune, Hyderabad, Noida, Raipur, Jaipur and Ahmedabad. Last week, it set up a new co-working centre spread over 25,000 sq ft with 300 seats in Udaipur.
DevX is also working on plans for its foray into the international market, starting with Dubai and Singapore.
«India’s next wave of growth will come from tier-2 and -3 cities,” said Umesh Uttamchandani, co-founder, DevX. “These markets have all the requisite factors—aspirations, opportunities, diversity of talent and hunger for growth—and DevX intends to partner with our clients to harness them.”
“With our stated business goal of being the partner of choice for multinational firms, GCCs (global capability centres) and ODCs (offshore development centres), we are excited about the future of the Industry,» Uttamchandani said.
DevX recently raised funding worth $7 million through a mix of equity and debt capital, which will be deployed for further national and global expansion.
Started in 2017, the company has 1.02 million assets under management with presence across 10 cities in India with 27 centres.
DevX is also setting up Deakin University’s India campus in GIFT City in Gujarat, making it the first instance of an international university to set up
