Managed offices provider DevX sets up 1.80-lakh-sq-ft coworking center in Ahmedabad

economictimes.indiatimes.com:

DevX has set up a coworking center spread over 1.80 lakh sq ft on Sindhu Bhavan Road in Ahmedabad. This hub, the managed office space provider’s fourth facility in Ahmedabad, has over 3,000 seats and is the largest coworking space in Gujarat.

The company is looking to further expand presence with more facilities across the country and plans to double its India portfolio by investing Rs 60 crore over the next two years. “The new centre in Ahmedabad helps us further consolidate DevX’s leadership position as Gujarat’s leader in this space…With over 25 centres across India, DevX will double its India portfolio by investing Rs 60 crore,” said Umesh Uttamchandani, Co-Founder, DevX.

DevX is a co-working space cum accelerator founded in September 2017 by three entrepreneurs Rushit, Umesh Parth and a listed entity--Dev Information Technology. In April, the company raised funding worth over $3 million from key investors including Urmin Family Office, Bidiwala Family Office, Navneet Publications, Venus Infrastructure, and structural consulting firm Ducon.

These funds will be used for the company’s expansion and to more than double its portfolio to 2 million sq ft from the current 900,000 sq ft under management with 25 centres across 11 cities. The demand for flexible workspaces from large enterprises has gone up multi-fold across metros and also in tier II and III cities in the backdrop of the rising acceptance for hybrid work model that emerged post the outbreak of Covid19 pandemic and so has the preference for customization of these office spaces.