India, June 29 -- Managed workspace provider Incuspaze has raised Rs.150 Cr (about $15.9 Mn) in a fresh funding round led by Bharat Value Fund and other financial institutions as it gears up for its planned IPO in FY29.

The fresh capital will be used to expand Incuspaze's footprint across key markets, invest in technology, and bankroll strategic acquisitions, the startup said in a statement.

The development comes weeks after Incuspaze acquired a 100% stake in Hyderabad-based managed workspace operator iKeva. While the startup did not disclose the financial details of the deal, it said the acquisition was expected to add nearly Rs.100 Cr to its revenue and support its target of reaching Rs.1,000 Cr in annual revenue by FY29.

Incuspaze a...