Co-working startup Incuspaze has raised nearly $16 million (around Rs 150 crore) in a funding round led by Bharat Value Fund, along with participation from other financial institutions.
The company said the fresh capital will be used to expand its footprint in key commercial markets, invest in technology, and pursue strategic acquisitions, as it gears up for a planned public listing in FY29.
The funding comes shortly after Incuspaze acquired Hyderabad-based managed workspace operator iKeva. Following the acquisition, the company aims to significantly scale its presence in the city, targeting over 1 million sq ft of managed office space by FY27.
Incuspaze had previously raised $8 million in July 2024 in its maiden funding round led by India Inflection Opportunity Fund (IIOF) and other investors.
Founded in 2016 by Sanjay Choudhary and Sanjay Chatrath, the company provides managed offices, coworking spaces, enterprise leasing, and design-and-build solutions. It currently operates over 80 centres across 18 cities, with a portfolio exceeding 4 million sq ft.
The company has been actively pursuing an acquisition-led growth strategy. Earlier this year, it acquired coworking operator TRIOS and real estate SaaS platform VSKOUT to strengthen its position in the flexible workspace segment.
According to media reports, Incuspaze is targeting revenue of Rs 350–400 crore in FY26, up from around Rs 150 crore in FY25.
