Managed workspace provider Incuspaze has secured Rs 150 crore (approximately $17.5 million) in a funding round led by Bharat Value Fund, with participation from several other financial institutions.
The newly raised capital will be deployed to expand the company’s footprint across key markets, enhance its technology capabilities, pursue strategic acquisitions, and support preparations for its planned IPO in FY29.
The latest funding comes after Incuspaze acquired Hyderabad-based managed workspace company iKeva. Following the acquisition, the company aims to grow its Hyderabad portfolio to over 1 million sq ft during FY27.
Incuspaze Operates 80+ Centres Across 18 Cities
Established in 2016, Sanjay Choudhary and Sanjay Chatrath founded Incuspaze, which provides managed office spaces, coworking solutions, enterprise leasing, along with design and build services. It currently operates more than 80 centres across 18 cities, managing a portfolio exceeding 4 million sq ft.
Over the last year, the company also acquired coworking operator TRIOS and real estate SaaS platform VSKOUT as part of its broader consolidation strategy within the flexible workspace industry.
Industry estimates suggest that increasing demand from enterprises, global capability centres (GCCs), and fast-growing companies seeking flexible office solutions has driven India’s flexible office market beyond 100 million sq ft.
In July 2024, Incuspaze had raised its first institutional funding of around $8 million from the India Inflection Opportunity Fund (IIOF), along with participation from other financial institutions.
According to media reports, the company had projected revenue of Rs 350–400 crore for FY26, compared with nearly Rs 150 crore in FY25.
With its proposed IPO, Incuspaze is set to join the growing list of publicly listed flexible workspace companies, including Awfis, Smartworks, IndiQube, and WeWork India.
