NEW DELHI: Flexible workspace provider Incuspaze has secured Rs 150 crore in a funding round led by Bharat Value Fund along with various financial institutions. This funding will enhance its foothold in key commercial markets, accelerate technological advancements, and facilitate acquisitions as the company prepares for a public listing planned for FY29.
This latest capital infusion follows the company’s initial funding in July 2024, where it raised $8 million (Rs 67 crore) through the India Inflection Opportunity Fund.
“This infusion of capital will help us expedite our growth plans, deepen our market presence in strategic areas such as Hyderabad, invest in technology, and continue pursuing growth opportunities aligned with our vision,” stated Sanjay Choudhary, founder and CEO of Incuspaze.
The funding also comes on the heels of Incuspaze’s recent acquisition of managed workspace operator iKeva, which bolsters its footprint in Hyderabad, where they plan to increase their managed office space portfolio to over 1 million sq. ft. by FY27.
“The managed workspace sector in India is poised for significant growth, driven by enterprise adoption, hybrid work strategies, and the rapid expansion of global capability centres (GCCs),” noted Sanjay Chatrath, co-founder and managing partner of Incuspaze. “With this funding, we are positioned to scale our platform, enhance customer experiences, and create a future-ready workspace ecosystem across India.”
The flexible office market in India has surpassed 100 million sq ft, predominantly driven by enterprises and GCCs, as well as rapidly growing businesses seeking impactful, scalable office solutions.
“Incuspaze has showcased remarkable execution capabilities, a unique enterprise-led business model, and a clear vision for the future of work,” commented Madhu Lunawat, CIO of Bharat Value Fund.
Incuspaze aims for revenue of Rs 1,000 crore by FY29, capitalizing on expansion, increased enterprise occupancy, and acquisitions.
In the past 18 months, the company has expanded its operational landscape by acquiring TRIOS and VSKOUT, further enhancing its technology and market intelligence. Its recent acquisition of Million Minds at GIFT City, Gujarat, solidifies its presence in Western India.
Incuspaze operates across 50 locations in 18 cities, managing over 4 million sq ft of space. Their offerings include managed offices, coworking spaces, enterprise solutions, design-and-build services, and tailored workspace strategies for diverse business sectors.
