India’s co-working sector bucks the WeWork bust trend

Between Awfis, WeWork India and Table Space, the country’s co-working startups have done well to avoid the narrative and valuation associated with technology companies.

Last week, Awfis got the nod from India’s securities regulator to go ahead with its initial public offering (IPO), the first-ever by a co-working company in India. Awfis—backed by some marquee investors, including Peak XV Partners (formerly Sequoia Capital India) and ChrysCapital—had filed its draft IPO papers in December last year. 

On the other hand, WeWork, the now-disgraced American startup, is all set to exit the India business and sell its entire stake of a little over 25% to new investors. The Economic Times first reported the development. 

Since it started operations in 2017, WeWork in India has been run …

Author

Harveen Ahluwalia

Harveen is a co-founder at The Morning Context, and leads our Internet coverage, overseeing a team of reporters writing on startups and tech. She has previously worked as a media, consumer and tech reporter at The Ken and Mint. At The Morning Context, she writes on startups, venture capital, consumer and media businesses—from e-commerce to healthtech to streaming.

Editor, Internet

harveen@mailtmc.com

Mumbai