Managed Office Provider DevX Launches 400 Seats in Andheri East, Mumbai

Managed office provider DevX has launched a 30,000-square-feet co-working space in Andheri East, Mumbai 

With an investment of INR  3.2 crore, 400 seats are available in this region. DevX will construct an additional 50,000 square feet within one year.

The company, which manages around 7 lakh square feet in 11 or more sites, also plans to invest Rs 60 crore over the next 18 months to triple its India portfolio.

DevX is a coworking space and cum accelerator founded in September 2017 by three entrepreneurs, Rushit, Umesh, and Parth, with one listed company, Dev Information Technology Ltd.

According to Umesh Uttamchandani, Co-Founder of DevX, the company plans to invest an additional USD 10 million and expand three overseas centres by 50,000-60,000 square feet within 18 months. In the next months, they hope to expand into places such as Chennai and Trivandrum.

According to Uttamchandani, the company now has 15,000 seats and plans to add 11,000 seats over the next year.

Before around two months, the company raised USD 2.5 million internally.

The CEO of Tim Hortons India, Navin Gurnaney, said that the company is very passionate, selective, and possessive about its work environment, culture, and atmosphere, which the DevX team absorbed and supplied and mentioned that they expected considerable development across India from their Mumbai centre.

Regarding the launch, Satyanarayan Goel, Chairman and Managing Director of the Indian Energy Exchange, said that managed workspaces provide businesses with future options for optimising resources and concentrating on corporate development and said that he was certain that the world-class infrastructure and amenities provided by the DevX facility would strengthen the coordination and collaboration of their team.