Managed workspace provider Incuspaze has raised ₹150 crore (about $15.9 million) in a fresh funding round led by Bharat Value Fund and other financial institutions, the company announced this week. The capital will support Incuspaze's expansion plans, technology investments, and strategic acquisitions as it prepares for its planned IPO in fiscal year 2029, according to inc42.com.
The funding follows Incuspaze's recent acquisition of Hyderabad-based managed workspace operator iKeva, which added nearly ₹100 crore to its revenue and expanded its portfolio by 5 lakh sq ft across 18 centres in Hyderabad and Bengaluru. Founded in 2016 by Sanjay Choudhary and Sanjay Chatrath, Incuspaze currently operates more than 80 centres across 18 cities with a total portfolio of 4 million sq ft. The startup offers managed offices, coworking spaces, enterprise workspace solutions, and design-and-build services, inc42.com reported.
Incuspaze aims to reach ₹1,000 crore in annual revenue by FY29, leveraging the fresh capital to deepen its presence in key markets such as Hyderabad and to add another 5 lakh sq ft of managed office space in FY27. The managed workspace sector has seen increased consolidation and investment, with companies focusing on expanding footprints and enhancing technology to meet growing demand for flexible office solutions, according to inc42.com.
Incuspaze's next major milestone will be its IPO planned for FY29, with the recent ₹150 crore funding round and acquisition of iKeva positioning it for accelerated growth and market consolidation in the managed workspace segment, inc42.com stated.