DevX.com
Leading independent commercial site for it development information.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | N/A | Seed | |
| Total Funding | 000k | ||
Established in 2017, DevX is a prominent player in India's coworking and startup accelerator landscape. The company was founded in Ahmedabad, Gujarat, by Jaimin Shah, Parth Shah, Rushit Shah, and Umesh Uttamchandani. This founding team, with a background in the IT sector, identified a need for a more robust startup ecosystem in their home state and created DevX to provide the necessary infrastructure and support for emerging companies.
DevX operates on a B2B and B2B2C model, primarily offering managed and flexible office spaces to a diverse clientele that includes startups, established corporations, and freelancers across India. The firm designs, builds, and manages office environments, handling all operational aspects to foster collaboration and productivity. Its service portfolio is comprehensive, featuring coworking desks, private managed offices, serviced offices, and meeting facilities available across more than 25 centers in over 10 Indian cities. Revenue is generated from these workspace solutions. The company has successfully raised significant capital to fuel its growth, completing a Series B funding round in May 2024 and securing a total of $16.1 million across seven rounds.
Beyond physical workspaces, DevX actively cultivates innovation through its role as a startup accelerator. The company runs the DevX Venture Fund, which invests in early-stage, technology-enabled startups in sectors like SaaS, fintech, and healthcare. This dual focus on providing infrastructure and strategic investment positions DevX as a key ecosystem enabler, supporting businesses from their initial stages through to significant growth milestones by providing capital, mentorship, and resources.
Keywords: coworking India, managed office space, startup accelerator, venture fund, real estate technology, flexible workspace, corporate real estate, Ahmedabad startup, office solutions, B2B services, startup ecosystem, Series B, Jaimin Shah, Umesh Uttamchandani, Parth Shah, Rushit Shah, DevX Venture Fund, proptech, serviced offices, startup investment