Awfis receives $20 million from Sequoia India

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 Chennai, Mumbai, NCR, Bengaluru, Hyderabad, Kolkata, and Pune in the next 24 months. Maple Capital Advisors acted as the financial advisor for the transaction. Amit Ramani – Founder & CEO, Awfis said, “We have seen a huge demand in the market for co-working spaces and have created a shared economy platform that leverages technology. Awfis is transforming under-utilised real estate assets and providing an affordable and exciting new age work environment for today’s entrepreneur.” 

Awfis was jointly incubated by Amit Ramani and The Three Sisters: Institutional Office (TTS:IO) with a total capital investment of $11 million in April 2015. Led by the three daughters of Rana Kapoor (Radha, Raakhe and Roshini), TTS:IO is an institutionally organised family office founded with the stated objective of incubating  ‘new-age’ creative businesses.