by Lillie Zhou
Coworking spaces have been revolutionizing work culture across the globe for the past few years. Amid increasing demand for shared office spaces throughout the country, India’s coworking industry has attracted about USD 400 Million in investments this year. Currently, coworking spaces are a hot property in India. On July 25th, Awfis raised USD 20 Million in a Series-C funding round from existing investors Sequoia Capital, The Three Sisters: Institutional Office (TTS:IO), and InnoVen Capital. Awfis is India’s largest home-grown co-working space provider. The company plans to use the investment to enhance its existing technology platform and further expand its network across India.
- On July 18, SaffronStays raised USD 2 Million in a pre-Series-A funding round led by Sixth Sense Ventures. Saffronstays is a micro-hospitality startup providing home rental vacation services. It currently operates 45 homes across six states in India and hosts over 1500 guests every month. The startup will use the investment to expand its network of homes and thereby accelerate its growth.
- On July 19, Woodenstreet raised USD 1 Million in a Series-A funding round from Rajasthan Venture Capital Funds (RVCF) and other investors. Woodenstreet is an online furniture seller based in Jaipur. The fresh investment will help the company expand into new business sectors, such as interior design services.
- On July 21, PaySense raised USD 18 Million in a Series-B round of funding led by payments provider PayU. PaySense works in the space of digital lending where it offers loans to customers who might not have a credit. The company plans to use the investment towards strengthening its tech and data analytics team.
- On July 21, GirnarSoft raised USD 3.6 Million in debt fund from Trifecta Venture Debt Fund. The company caters to various services including website design, website development, ecommerce site building, mobile app development, and internet marketing.
- On July 24, LifCare raised USD 11 Million in a Series-B round of funding from SAIF Partners, Nexus Ventures and Infrastructure Leasing & Financial Services Limited (IL&FS). Lifcare is an online pharmacy platform operated by Corner Store Technologies. The funds will be used to expand the company’s geographical presence in India.
- On July 25, LoginRadius raised USD 17 Million in a Series-A funding round led by ForgePoint Capital and Microsoft’s venture fund, M12. Based in New Delhi, LoginRadius is a cloud SaaS (Software as a Service) startup, offering Customer Identity and Access Management (cIAM) solutions. With the investment, the startup plans to accelerate its innovation process and expand globally
- On July 26, Trell raised USD 1.25 Million in a Seed round of funding led by BEENEXT and WEH Ventures. Trell is a video blogging platform founded in 2017. The startup will use the investment to strengthen its team.
8. On July 26, Iqlect raised USD 2.5 Million led by Venture East and existing investor Exfinity Ventures. Iqlect is a big-data analytics platform based in Bengaluru. The investment will help the company strengthen its team in Bengaluru and hire more engineering and sales talent as well.
(Top photo from unsplash.com)