Incuspaze Secures USD 8 Mn in Maiden Funding to Expand Workspace Solutions The raised capital will beef up Incuspaze's capabilities to provide top-tier workspace solutions to enterprises, MSMEs, and startups.
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Workspace solution provider Incuspaze has announced the raising of approximately USD 8 million in its maiden funding round, led by the India Inflection Opportunity Fund (IIOF) and other financial institutions.
"This investment will significantly bolster our capabilities to provide top-tier workspace solutions tailored to enterprises, MSMEs (micro, small, and medium enterprises), and startups. With our clear profitability matrix and enterprise-focused approach, we aim to become a dominant player in India's flexible workspace market," said Sanjay Choudhary, CEO, Incuspaze.
Founded in 2016 by Sanjay Choudhary, Incuspaze is a workspace provider, offering a vibrant network of managed offices, co-working spaces, and traditional setups across 44 locations in 18 cities.
Having a portfolio of 3 million square feet, the firm recently leased 220,000 square feet of space in Gurugram's M3M Urbana project.
The transaction followed 600,000 sq ft of space leased by the company in the June quarter in three cities as it continued to expand amid growing demand.
"Incuspaze has demonstrated impressive growth and resilience in a competitive market. Our investment aligns with our strategy of backing companies with strong potential for long-term success and profitability," said Madhu Lunawat, chief investment officer, India Inflection Opportunity Fund.
The Gurugram-based platform aims to expand its portfolio in southern India, with a focus on Bengaluru, Chennai, and Hyderabad. PhonePe, Byju's, Flipkart, and Girnarsoft, among others, are its top clients.
