About DevX
DevX is a company based in Ahmedabad (India) founded in 2017 by Rushit Shah, Parth Shah, Umesh Uttamchandani, and Jaimin Shah.. DevX has raised $16.16 million across 7 funding rounds from investors including Navneet Publications, Venus Infrastructure and Ardeko. The company has 39 employees as of April 10, 2024. DevX offers products and services including Managed Offices and Coworking Spaces. DevX operates in a competitive market with competitors including WeWork, BHIVE Workspace, IndiQube, 91Springboard and Cowrks, among others.
- Headquarter Ahmedabad, India
- Employees 39 as on 10 Apr, 2024
- Founders Rushit Shah, Parth Shah, Umesh Uttamchandani, Jaimin Shah
- Stage Minicorn
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Sectors
Real Estate & Construction
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Dev Accelerator Limited
- Date of Incorporation 29 Aug, 2020
- Jurisdiction Ahmedabad, Gujarat, India
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Annual Revenue
$7.47 M (USD)155.87as on Mar 31, 2023
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Net Profit
$-1.54 M (USD)-71.55as on Mar 31, 2023
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EBITDA
$3.59 M (USD)113.37as on Mar 31, 2023
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Total Equity Funding
$16.16 M (USD)
in 7 rounds
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Latest Funding Round
$2.9 M (USD), Series B
May 13, 2024
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Investors
Navneet Publications
& 38 more
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Employee Count
39
as on Apr 10, 2024
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Products & Services of DevX
DevX offers a comprehensive portfolio of products and services, including Managed Offices and Coworking Spaces. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Fully managed office spaces for business operations and productivity.
Flexible coworking options across cities for professional collaboration.
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Funding Insights of DevX
DevX has successfully raised a total of $16.16M across 7 strategic funding rounds. The most recent funding activity was a Series B round of $2.9 million completed in May 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Series B — $2.9M
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First Round
First Round
(01 May 2019)
- Investors Count 39
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2024 | Amount | Series B - DevX | Valuation | Ducon Consultants , Margesh Shah | |
| Feb, 2024 | Amount | Debt – Conventional - DevX | Valuation |
investors |
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| Jan, 2024 | Amount | Series B - DevX | Valuation | Urmin Family Office , Bidiwala Family Office |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in DevX
DevX has secured backing from 39 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Navneet Publications, Venus Infrastructure and Ardeko. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single-family office focused on multiple sectors
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Founded Year | Domain | Location | |
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Single family office services are provided to the Bidiwala family.
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Founded Year | Domain | Location | |
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Equity and debt investments are made across multiple sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by DevX
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - DevX
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Devx Comparisons
Competitors of DevX
DevX operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as WeWork, BHIVE Workspace, IndiQube, 91Springboard and Cowrks, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Flexible office and coworking spaces are provided by WeWork globally.
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| domain | founded_year | HQ Location |
Flexible workspace solutions, including coworking and managed offices, are offered.
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| domain | founded_year | HQ Location |
Flexible workspace solutions are provided for enterprises, startups, and SMBs.
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| domain | founded_year | HQ Location |
Operator of shared workspaces, private offices, and virtual office solutions
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| domain | founded_year | HQ Location |
Provider of flexible and customized coworking spaces
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Devx
Frequently Asked Questions about DevX
When was DevX founded?
DevX was founded in 2017 and raised its 1st funding round 2 years after it was founded.
Where is DevX located?
DevX is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Who is the current CEO of DevX?
Jaimin Shah is the current CEO of DevX. They have also founded this company.
Is DevX a funded company?
DevX is a funded company, having raised a total of $16.16M across 7 funding rounds to date. The company's 1st funding round was a Series B of $7M, raised on May 01, 2019.
How many employees does DevX have?
As of Apr 10, 2024, the latest employee count at DevX is 39.
What is the annual revenue of DevX?
Annual revenue of DevX is $7.47M as on Mar 31, 2023.
What does DevX do?
DevX was founded in 2017 in Ahmedabad, India, as a provider of managed office spaces and coworking facilities. Office designs are planned, buildings are constructed, and operations are managed to support team collaboration. Workspaces are ensured to comply with international standards. Services encompass design planning, execution of builds, and ongoing management within the commercial real estate sector.
Who are the top competitors of DevX?
DevX's top competitors include WeWork, IndiQube and BHIVE Workspace.
What products or services does DevX offer?
DevX offers Managed Offices and Coworking Spaces.
Who are DevX's investors?
DevX has 39 investors. Key investors include Navneet Publications, Venus Infrastructure, Ardeko, Shreenath Smart Technologies, and Chhattisgarh Investments.
What is DevX's valuation?
The valuation of DevX is $17.71M as of Dec 2022.
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