Introduction
Every big startup starts with a simple question: how do we solve this problem?
Back in 2017, three Gujarati friends asked themselves the same thing, when they saw the gap in startup eco-system. Entrepreneurs around them were rising fast, but most struggled with one common challenge — finding the right workspace. Affordable offices were rare, and scaling up meant constant compromises.
Instead of letting the idea fade, they acted. That decision gave rise to DevX Work, a venture founded on addressing real needs. What began as a thought in Ahmedabad soon shaped into a business model that supported entrepreneurs, global companies, and growing teams alike.
Today, DevX isn’t just another coworking provider. It represents Gujarat’s entrepreneurial spirit — spotting gaps, building solutions, and scaling with purpose. From shared desks to IPO milestones, the journey reflects how an idea backed by execution can rewrite an entire industry.
The Spark – Why DevX Started
A few years back, Ahmedabad’s startup scene was buzzing, but office space was always a roadblock. Rents were high, options were rigid, and co-working wasn’t common yet. That’s when three friends — Umesh Uttamchandani, Parth Shah, and Rushit Shah — stepped in with the same vision. With 3 decades of combined IT experience, they knew the gaps firsthand. Instead of waiting for change, they created DevX Work— a solution built for flexibility, collaboration, and growth.
Solving Workspace Gaps with Smart Office Solution
DevX works on a managed and serviced office model. They lease, redesign the properties and make them flexible workspaces for startups, enterprises, and professionals.
This approach solves two problems at once — landlords get better occupancy and revenue, while clients save time and effort with a fully equipped space.
From coworking seats to custom-built managed offices, and from event spaces to training halls, DevX covers every need. It’s not just about space — it’s about creating an environment where businesses can focus on growth, not infrastructure.
Dev X Work Journey of Consistent Growth
From a single idea in Ahmedabad, DevX has expanded into one of India’s fastest-growing workspace providers. The journey reflects not just ambition but consistent execution.
With premium service, they scaled to 12 major cities, serving 250+ enterprises across industries.
Every expansion carried the same promise — quality, flexibility, and a human-first approach to workspaces. That’s why today, DevX stands as a trusted partner for both Indian startups and international businesses.
Challenges and Bounce Back
Like most Entrepreneur businesses, DevX wasn’t immune to the lockdown period. The co-working industry faced empty offices, paused contracts, and uncertain demand. Survival was the only goal during that phase, as services became difficult to sustain. But those who managed to hold on — like DevX — later witnessed stupendous growth. That resilience helped them survive and set the stage for expansion.
From Idea to IPO – The Defining Moment
The growth of DevX reached a milestone when the company decided to go public. Started as just an idea, now it was time to go big. On September 17, 2025, DevX listed the IPO, a fresh issue of 2.35 crore shares, raising ₹143.35 crore.
The response was strong, with investors showing confidence in its business model and plans. For DevX, this wasn’t just about raising funds — it was recognition. More importantly, it highlighted Gujarat’s growing entrepreneurial strength and the ability of local startups to scale.
Conclusion
Every success story begins with solving a simple problem. DevX turned workspace struggles into a scalable business, showing that clear vision and steady execution matter more than loud promises. From one idea to a public listing. The story of these 3 friends is proof of what smart entrepreneurship can achieve.
And if you are someone who is open to learning from such Entrepreneurship stories, then follow Gujpreneur.
