New Delhi, June 30 -- Managed workspace and office solutions provider Incuspaze has raised Rs 150 crore ($15.8 million) in a funding round led by Bharat Value Fund and other financial institutions, the company said in a statement.
The company said the fresh capital will be used to strengthen its presence across key commercial markets, accelerate technology investments, pursue acquisitions, and prepare for a planned public listing in FY29.
The funding follows Incuspaze's recent acquisition of iKeva, a managed workspace operator with a strong presence in Hyderabad. The acquisition has significantly enhanced Incuspaze's regional presence while adding enterprise-grade assets to its portfolio. The company plans to scale its Hyderabad portfolio to over 1 million sq ft of managed office space in FY27.
The acquisition followed Incuspaze's earlier purchase of Pune-based co-working company TRIOS and real estate-focussed B2B SaaS platform VSKOUT.
India's flexible office industry has crossed the 100-million-square-feet milestone, with demand being driven by enterprises, global capability centres (GCCs), and high-growth businesses seeking scalable, experience-led office solutions.
Over the last decade, Incuspaze has established itself as a workspace partner for enterprises across India, building a diversified portfolio of managed offices, coworking spaces, and customized workplace solutions.
"This investment marks an important chapter in Incuspaze's evolution," said Sanjay Choudhary, founder and chief executive officer of Incuspaze. "It will enable us to accelerate our expansion plans, deepen our presence in strategic markets such as Hyderabad, invest in technology, and continue pursuing growth opportunities that complement our vision."
Madhu Lunawat, chief investment officer at Bharat Value Fund, said Incuspaze has demonstrated strong execution capabilities, a differentiated enterprise-led business model, and a clear vision for the future of work. "We believe the company is well positioned to capitalize on the structural growth opportunities within India's flexible workspace sector, and we are excited to partner with the team during this next phase of expansion," she said.
The latest fundraise represents a strategic step in Incuspaze's long-term growth roadmap as it prepares for its next phase of institutional scale-up and eventual public market debut, the statement said.
Founded in 2016, Incuspaze has a presence across over 80 locations in 18 cities, with a total portfolio of 4 million sq ft. The company operates in both tier I and II cities, and provides managed offices, coworking spaces, asset leasing, design-and-build services, and traditional workspace solutions to enterprises, GCCs, and large Indian corporates.
Published by HT Digital Content Services with permission from VC Circle.