DevX, coworking office space startup, has raised a fresh funding of $7 million (approx. Rs 58 crore) in a mix of debt and equity infusion.
The round saw participation from existing family offices, including Urmin, Bidiwala, and Gala, with participation from high-net-worth individuals like Ajay Patel, Mitesh Patel, and Soham Mehta, apart from banks and NBFCs.
The startup plans to use the fresh funds to fuel its national and global expansion goals.
DevX, founded by Parth Shah, Umesh Uttamchandani, and Rushit Shah in 2017, focuses on nurturing innovative startups bby providing them with all requirements by being positioned as equal partner in growth.
The startup also claims to provide a platform for industry, academia, professionals and companies to hold hackathons, seminars, events etc, to address trends and issues. The startup is planning to further expand and thus consolidate its pan-India presence by 2023 end.
Previously, in April last year, DevX had secured a funding of $3 million, which had allowed them to move their operating management business from 9,00,000 sq feet to 2 mn feet area.
