DevX Listed
Ahmedabad-based flexible workspace and managed-office operator providing built-to-suit coworking and managed office space to enterprises, GCCs, SMEs and startups across Tier-1 and Tier-2 Indian cities. Also runs a startup accelerator/venture fund (DevX Venture Fund). Went public on NSE and BSE via IPO in September 2025.
DevX: Funding Rounds
| Date | Round | Amount | Investors | Source |
|---|---|---|---|---|
| 16 Jun 2026 | Preferential Allotment | ₹34.99 Cr | Infibeam Projects Management Private Limited Parth Shah Rushit Shah Umesh Uttamchandani | source |
| 17 Sep 2025 | IPO | ₹143.35 Cr | source | |
| Feb 2024 ~ | Series B | $7 Mn | Ajay Patel Bidiwala Family Office Gala Family Office Mitesh Patel Soham Mehta Urmin Family Office | source |
| Apr 2023 ~ | Pre-Series A | $3 Mn | Bidiwala Family Office Ducon Navneet Publications Urmin Family Office Venus Infrastructure | source |
| May 2019 ~ | Seed | $1 Mn | source |
Recent Signals
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12 Feb 2026 · growth-traction
DevX (Dev Accelerator) signs landmark 27-storey office tower deal in Ahmedabad source
News on DevX
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Who founded DevX?
DevX was founded by Parth Shah, Rushit Shah, Umesh Uttamchandani in 2017.
How much funding has DevX raised?
DevX has raised $31.39 Mn across 5 tracked funding round(s), most recently on 2026-06-16. Figures are compiled from cited public sources.
Who are the investors in DevX?
Investors in DevX include Infibeam Projects Management Private Limited, Parth Shah, Rushit Shah, Umesh Uttamchandani, Ajay Patel, Bidiwala Family Office, Gala Family Office, Mitesh Patel.
What does DevX do?
Ahmedabad-based flexible workspace and managed-office operator providing built-to-suit coworking and managed office space to enterprises, GCCs, SMEs and startups across Tier-1 and Tier-2 Indian cities. Also runs a startup accelerator/venture fund (DevX Venture Fund). Went public on NSE and BSE via IPO in September 2025.
Where is DevX headquartered?
DevX is headquartered in Ahmedabad, Gujarat, India.
What is DevX's business model?
DevX's core value proposition centers on Managed/serviced office model with premium customer service, "Workspace That Inspires", Scale: 1.5M+ sq ft of premium managed workspace.
How does DevX make money?
DevX's cited revenue streams include Managed office solutions with anchor clients, Lease and revenue-sharing agreements with landlords, Coworking seat/desk sales.