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 fresh capital will be used to expand its presence across key markets, strengthen its technology stack, pursue strategic acquisitions, and prepare for its planned IPO in FY29. The fundraise follows the company'sacquisitionof Hyderabad-based managed workspace operator iKeva. With the acquisition, Incuspaze plans to expand its Hyderabad portfolio to more than 1 million sq ft in FY27. Founded in 2016 by Sanjay Choudhary and Sanjay Chatrath, Incuspaze offers managed offices, coworking spaces, enterprise leasing, and design and build solutions. The company currently operates more than 80 centres across 18 cities, managing a portfolio of over 4 million sq ft. Over the past year, Incuspaze has also acquired coworking operatorTRIOSand real estate SaaS platformVSKOUTas part of its consolidation strategy in the flexible workspace segment. According to industry estimates, India's flexible office 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 had set a revenue target of Rs 350–400 crore for FY26, compared with 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. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
