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Doris Yu · · 1 min readReport: Sequoia-backed Indian co-working startup Awfis nets $5.5m in funding
“Facing the heat of the pandemic, Sequoia Capital-backed co-working space firm Awfis has raised fresh funds from two existing investors. Bisque Limited and Link Investment Trust have put in 400 million rupees (US$5.5 million) in the Delhi-based company,” reported Entrackr.
Details:
- Bisque poured 394 million rupees (US$5.4 million) while Link invested 6 million rupees (US$82,351) in the investment, regulatory filings show.
- The fresh funds might be used to streamline operations as the firm recovers from the Covid-19 pandemic.
Context:
- The latest investment brings the total capital Awfis raised to date to US$60 million.
- During the pandemic, the co-working platform launched new features such as Awfis@Home, which offers IT services, tech integration, and other physical infrastructure support. It also rolled out Awfis Care to help manage office spaces for businesses.
Currency converted from Indian rupee to US dollar: US$1 = 72.83 rupee.
Editing by Collin Furtado
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