Managed workspace provider Incuspaze has raised Rs 150 crore (around $17.5 million) in a funding round led by Bharat Value Fund, with participation from other financial institutions. The company will use the fresh capital to expand across key markets, strengthen its technology stack, pursue strategic acquisitions, and prepare for its planned IPO in FY29.
The fresh capital will support Incuspaze’s expansion across key markets while helping the company strengthen its technology stack, pursue strategic acquisitions, and prepare for its planned IPO in FY29.
Incuspaze, established in 2016 by Sanjay Choudhary and Sanjay Chatrath, offers managed offices, coworking spaces, enterprise leasing, and design-and-build solutions. The company currently operates more than 80 centres across 18 cities and manages a portfolio spanning over 4 million sq ft.
The latest fundraise comes after the company acquired Hyderabad-based managed workspace operator iKeva. Following the acquisition, Incuspaze plans to expand its Hyderabad portfolio to more than 1 million sq ft by FY27.
Over the past year, the company has also acquired coworking operator TRIOS and real estate SaaS platform VSKOUT as part of its consolidation strategy in the flexible workspace segment.
The broader flexible office market in India has continued to expand. According to industry estimates, the market has crossed 100 million sq ft, driven by rising demand from enterprises, global capability centres (GCCs), and high-growth companies seeking flexible office solutions.
Incuspaze raised its maiden institutional funding of around $8 million in July 2024 from the India Inflection Opportunity Fund (IIOF) and other financial institutions.
According to media reports, the company has set a revenue target of Rs 350–400 crore for FY26, up from around Rs 150 crore in FY25.
With its planned IPO, Incuspaze will join a growing list of listed flexible workspace companies, including Awfis, Smartworks, IndiQube, and WeWork India.
Read Article: OpenAI previews GPT-5.6 family Sol, Terra and Luna in government-vetted limited rollout
