The latest funding follows the company’s maiden funding round in July 2024, when it raised $8 million (Rs 67 crore) led by the India Inflection Opportunity Fund.
“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 funding comes after Incuspaze’s recent acquisition of managed workspace operator iKeva, strengthening its presence in Hyderabad. The company plans to expand its portfolio in the city to more than 1 million sq. ft. of managed office space in FY27.
“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),” said Sanjay Chatrath, co-founder and managing partner of Incuspaze. “With this funding, we are well-positioned to scale our platform, enhance customer experiences and create a future-ready workspace ecosystem across India.”
India’s flexible office market has crossed the 100 million sq ft milestone, with demand driven by enterprises, global capability centres and high-growth businesses seeking scalable, experience-led office solutions.
“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.Incuspaze is targeting revenue of Rs 1,000 crore by FY29 through expansion, higher enterprise occupancy and acquisitions.
Over the past 18 months, the company has acquired TRIOS and VSKOUT, expanding its operational footprint while strengthening its technology and market intelligence capabilities. More recently, it acquired Million Minds at GIFT City, Gujarat, to strengthen its presence in western India.
Incuspaze operates across 50 locations in 18 cities with a portfolio of more than 4 million sq ft. It offers managed offices, coworking spaces, enterprise solutions, design-and-build services, and customised workspace strategies for businesses across sectors.