Incuspaze Secures $17.5 Mn in Round led by Bharat Value Fund

The company will use the new funding to expand into major business cities, invest in technology, and acquire other businesses as it prepares for its planned IPO in FY2029.

“The capital infusion 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,” said Sanjay Choudhary, founder and CEO of Incuspaze.

“The managed workspace sector in India is entering its next phase of growth, driven by enterprise adoption, hybrid work strategies and the rapid expansion of global capability centres (GCCs),” Sanjay added. “With this funding, we are well-positioned to scale our platform, enhance customer experiences and create a future-ready workspace ecosystem across India.”

“Incuspaze has demonstrated strong execution capabilities, a differentiated enterprise-led business model and a clear vision for the future of work,” said Madhu Lunawat, CIO of Bharat Value Fund.

Founded in 2016 by Sanjay Choudhary and Sanjay Chatrath, Incuspaze offers managed office spaces, coworking spaces, enterprise office leasing, and office design and build services. The company currently operates more than 80 centres across 18 cities and manages over 4 million square feet of office space.

Over the past year, Incuspaze expanded its business by acquiring coworking company TRIOS and real estate software platform VSKOUT. These acquisitions have helped strengthen its position in India's growing flexible workspace market.

India's flexible office space market has now crossed 100 million square feet, driven by increasing demand from enterprises, Global Capability Centres (GCCs), and fast-growing businesses looking for flexible office solutions.

In July 2024, Incuspaze raised its first institutional funding of around $8 million from the India Inflection Opportunity Fund (IIOF) and other financial institutions.

According to media reports, the company aims to achieve ₹350–400 crore in revenue in FY26, compared with around ₹150 crore in FY25.

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