DevX, a managed office space provider, is set to double its footprint in the next two years, eyeing tier-2 and tier-3 cities amidst the rise of remote and hybrid work models. With centers in major cities like Mumbai and Delhi, DevX aims to cater to the demand for flexible office spaces in smaller cities like Udaipur, Raipur, and Jaipur. Additionally, international expansion into Dubai and Singapore aligns with the trend of global capability centers. Umesh Uttamchandani, DevX's co-founder, sees immense potential in India's smaller cities and aims to unlock it by providing flexible workspace solutions. With recent funding and innovative initiatives like partnering with Deakin University for an India campus in GIFT City, Gujarat, DevX is poised to meet the evolving needs of businesses and professionals beyond traditional metropolitan hubs.
DevX, a managed office space provider, is planning to double its footprint in the next two years, with a focus on expanding into tier-2 and tier-3 cities.
This move comes as more and more companies embrace remote and hybrid work models. DevX sees a growing demand for flexible and well-equipped office spaces in smaller cities, allowing businesses to cater to a geographically dispersed workforce of potentially hundreds or even thousands of employees. The company currently operates centers in major cities like Mumbai and Delhi, but their sights are now set on locations like Udaipur (already has a new 25,000 sq ft center with 300 seats), Raipur, and Jaipur.
DevX isn't just looking inwards. They're also planning to set up shop internationally, with Dubai and Singapore being the first targets. This international expansion reflects the growing trend of companies establishing global capability centers (GCCs) and offshore development centers (ODCs)-both of which can benefit from the kind of flexible workspace solutions DevX offers.
Umesh Uttamchandani, co-founder of DevX, believes that India's future growth will be driven by these smaller cities. He highlights their "aspirations, opportunities, diversity of talent and hunger for growth" as key factors. By providing flexible office space solutions, DevX aims to partner with companies and unlock this potential, impacting potentially millions of workers across India.
This expansion aligns perfectly with the rising demand for flexible workspaces in India. The need for adaptable office solutions, along with the increasing number of startups and evolving work models, has fueled the growth of this market, particularly since the pandemic. DevX recently secured $7 million in funding to support their national and international expansion plans.
Interestingly, DevX is also venturing beyond traditional office space solutions. They're partnering with Deakin University to set up their first India campus in GIFT City, Gujarat, encompassing a state-of-the-art 25,000 sq ft facility. This signifies the company's commitment to creating holistic work environments that cater to the evolving needs of businesses and professionals.
With its focus on tier-2, 3 cities (already having a presence in 10 cities with 27 centers and 1.02 million sq ft under management) and global expansion, DevX is well-positioned to capitalise on the growing demand for flexible workspaces in the post-pandemic world. Their expansion plans could create exciting opportunities for businesses and professionals looking for modern and adaptable work solutions outside the traditional metropolitan hubs.
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