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DevX Reviews

Ahmedabad, Gujarat

4.0/ 5

2 reviews

Dev Accelerator Limited, popularly known as DevX, is a prominent Indian managed workspace and startup accelerator provider headquartered in Ahmedabad, Gujarat. Founded in September 2017 by Rushit Shah, Parth Shah, Jay Patel, and Umesh Uttamchandani, the company has positioned itself as an essential catalyst within India’s corporate and entrepreneurial ecosystems. DevX functions as a comprehensive platform uniting large enterprises, small and medium enterprises (SMEs), startups, universities, and investors by offering infrastructure and collaborative corporate innovation solutions. The primary business of DevX revolves around its flexible workspace vertical. The company delivers a diverse portfolio of shared environments, including co-working spaces, fully managed offices, serviced corporate suites, and fully equipped conference and meeting halls. Over the years, DevX has carved a distinct niche by becoming one of the largest flexible space operators across India's Tier-2 and Tier-3 markets, while maintaining a strong presence in Tier-1 hubs. Its workspace footprint spans across major Indian cities such as Ahmedabad, Vadodara, Surat, Rajkot, Mumbai, Pune, Noida, Hyderabad, and Udaipur, operating more than 25 centers nationwide. Through its specialized subsidiaries, like Needle & Thread Designs for office design and execution, and Saasjoy Solutions for integrated IT/ITeS support, DevX provides a full-service, plug-and-play infrastructure encompassing corporate branding, security, hospitality, payroll, and facility management. Beyond real estate, DevX distinguishes itself through its robust startup accelerator and incubation programs, bridging the gap between major corporations and cutting-edge innovators. The company operates the DevX Venture Fund, providing early-stage, technology-enabled startups with crucial seed capital, structured mentorship, and expansive networking opportunities. The accelerator specifically targets innovative ventures specializing in B2B technologies, such as Artificial Intelligence (AI), Internet of Things (IoT), Cloud Computing, Fintech, Healthcare, Manufacturing 4.0, and SaaS models. Financially, DevX has scaled significantly since its inception. Initially incorporated as an LLP, it transitioned into Dev Accelerator Private Limited in 2020, and successfully executed its Initial Public Offering (IPO) in September 2025, subsequently listing its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) under the ticker DEVX. Dev Information Technology Ltd. (DEVIT) continues to hold a strategic equity stake of 21.90% in the company. For its expansion initiatives, DevX has raised considerable capital, including over $16 million across multiple venture funding rounds and recent board approvals to secure additional capital for real estate deployment. Strategically led by its co-founders and supported by a multi-member board of directors, DevX continues to scale its operations rapidly, advancing its nationwide footprint, aiming to capture extensive office space real estate while actively investigating international markets like Dubai and Singapore.