Co-working solutions provider Awfis Space Solutions has raised Rs 15 crore in a Series E1 round led by existing investor Bisque Limited. With this, the Delhi-based company has raised Rs 80 crore in ongoing Series E round.

According to a regulatory filing with the Registrar of Companies, the board at Awfis has approved a special resolution to allot 10,39,706 Series E1 compulsory convertible preference shares (CCPS) at an issue price of Rs 144.27 per share in order to raise Rs 15 crore, or $1.83 million.

Link Investment contributed Rs. 23 lakh and Bisque Limited contributed Rs. 14.77 crores, taking the lead in the round. Ashish Kacholia, Bisque Limited, and Link Investment each invested Rs 50 crore, Rs 14.77 crore, and Rs 23 lakh in the company’s Series E round in June, for a total of Rs 65 crore.

According to estimates, the company has been valued at around $110 million (post-money). The company has raised around $100 million to date including a debt round of Rs 40 crore in March 2021. In June, the company raised Rs 65 crore in a Series E round led by Ashish Kacholia with a participation of existing backers Bisque Limited and Link Investment. The company may raise more funds in this round.

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Awfis

Awfis, a company founded in 2014, offers startups, SMEs, major corporations, and MNCs workspace solutions for independent contractors. The business asserts to have 77,500 seats at over 130 coworking locations spread over 15 cities. Awfis saw a scale increase of 44.4% to Rs 257 crore in FY22 from Rs 178 crore in FY21. As per the company’s annual financial statement with the RoC, its losses climbed 33.8% to Rs 57 crore in FY22 from Rs 42.6 crore booked in the preceding fiscal year.

Awfis registered a 44.4% growth in scale to Rs 257 crore in FY22 as compared to Rs 178 crore in FY21. As per the company’s annual financial statement with the RoC, its losses surged 33.8% to Rs 57 crore in FY22 from Rs 42.6 crore booked in the preceding fiscal year.

Awfis is also in the process to provide cash exit to its early backers – DOIT Urban and RAB India Enterprises to the tune of $30 million. Marketmoney had exclusively reported about the development in October. This appears to be the first major secondary transaction at the company.

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