In The Loop: Has Coworking Reached A Saturation Point? And Other Industry News

Awfis has raised US$20 Mn, WeWork to launch a brokerage service, and the latest on niche coworking

There’s Still Room For Growth
Although coworking has been rapidly growing in several markets across the world, the industry is not yet near its saturation point. However, experts do believe that “coworking’s growth in the U.S. and Europe will slow over the next 5 year,” which is only natural in a growing industry.

WeWork Launches Brokerage Service
Dave Fano, Chief Growth Officer at WeWork, announced through a blog post this week that the coworking giant “will now be able to offer holistic real estate solutions –both within and outside of WeWork–to small and mid-sized companies.” According to the blog post, WeWork will help members and non-members “find office space best suited to their requirements.”

Awfis Raises US$20 Million
India-based coworking operator, Awfis, has raised US$20 million in a Series C Funding Round. The company’s valuation has reached more than US$130.8 million. According to Inc42, “Awfis plans to use the funding to expand its operations to new cities, especially Tiers 2 ones.”

The Latest News
Delivered To Your Inbox

Cannabis Is The Newest Trend In Niche Coworking
The legal weed industry could be a $75 billion business by 2030. Curbed reported this week that “developers see the marijuana industry as an increasingly profitable arena for innovation and business—and coworking spaces as key to connecting players in an industry that, for some, has the frisson of the Wild West.”
Related reading: Paragon Opens Membership Applications For Its New Cannabis Coworking Space In Los Angeles

Campfire Raises US$18 Million
Hong Kong based operator, Campfire, announced this week that it “raised an $18 million Series A ahead of planned expansions to three overseas countries: Singapore, Australia and the UK.” According to TechCrunch, the new capital comes from a trio of real estate firms in Hong Kong and it was provided up-front and equity based.