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Co-working startup DevX raises $3 Mn in new round


Managed Office Space provider DevX has raised $3 million from marquee investors like Urmin Family Office, Bidiwala Family Office, Navneet Publications, Venus Infrastructure and Structural Consulting firm Ducon. 

DevX raised its first round of $1 million from a Gujarat-based investor in May 2019 at a pre-money valuation of $6 million.

The fresh funds will be used for national and global expansion & grow to 2 million Sq feet area from the current 9,00,000 Sq feet under management, the company said in a press release.

DevX is a co-working space cum accelerator focussed on nurturing innovative startups by providing them with all requirements. The company supports through its allied strategic partnerships and services and addresses different requirements across the value chain.

Founded in September 2017, DevX also provides a platform for industry, academia, professionals and companies to hold hackathons, seminars, and events et al to address trends and issues. The company is planning further expansion and thus consolidating its pan-India presence by 2023 end.

Founded by Umesh Uttamchandani, Parth Shah, and Rushit Shah, DevX operates with more than 25 centres across 11 cities in India.

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