Co-Working Startup DevX Raises $3 Mn In New Round

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DevX, a managed office space provider and co-working space cum accelerator, has raised $3 million from investors including Urmin Family Office, Bidiwala Family Office, Navneet Publications, Venus Infrastructure, and Ducon. The company aims to use the funds to expand its operations nationally and globally and grow its area under management to 2 million square feet from the current 900,000 square feet. DevX provides a platform for startups, industry, academia, and companies to hold events and addresses different requirements across the value chain. The company has over 25 centers across 11 cities in India and plans to consolidate its pan-India presence by the end of 2023. DevX raised its first round of $1 million from a Gujarat-based investor in May 2019 at a pre-money valuation of $6 million.

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.

DevX, the managed office space provider and co-working space cum accelerator, not only offers startups a conducive working environment, but it also provides a platform for industry, academia, professionals, and companies to hold hackathons, seminars, and events to address trends and issues. This shows that DevX is not only interested in supporting startups but also in promoting knowledge sharing and networking. The company is planning to consolidate its pan-India presence by 2023 end through further expansion.