Coworking company Incuspaze, which offers flexible office spaces to businesses, is looking to raise USD 25 million (over Rs 210 crore) to grow its operations in major cities before launching its Initial Public Offer (IPO).
Founded in 2016, Incuspaze operates in 44 locations across 18 cities, with a total of 4 million square feet of office space.
Incuspaze founder and CEO Sanjay Choudhary told PTI said, "We plan to add another 2 million (20 lakh) square feet in our portfolio by the end of December 2025,"
Plan of Incuspaze
Due to the growing demand for flexible workspaces, Incuspaze plans to open new centers in Delhi-NCR, Pune, Bengaluru, and Hyderabad.
Earlier this year, the company raised USD 8 million from the India Inflection Opportunity Fund and other financial institutions. Choudhary mentioned that demand for premium office space remains strong, especially from multinational companies setting up Global Capability Centres (GCCs) in India.
In the last six months, Incuspaze expanded its portfolio by adding 2 million square feet of office space in cities like Delhi NCR, Mumbai, Chennai, Pune, Jaipur, Lucknow, and Bengaluru.
Read also - Zomato has Secured Rs 8,500 Cr through a QIP
In July, Incuspaze leased around 580,000 square feet of office space in Gurugram to meet rising corporate demand.
According to real estate consultant Vestian, flexible office space providers had a total of 67 million square feet of prime office space by June this year. This is expected to grow to over 100 million square feet by the end of 2026, driven by increased demand from corporations.
The flexible office market has shifted since the pandemic, with large companies now seeking these spaces instead of just startups and small businesses, due to the flexibility and cost benefits.
About Incuspaze
Incuspaze is one of India's top workspace providers, offering a range of managed offices, co-working spaces, and traditional setups across 44 locations in 18 cities. They currently offer over 2.5 million square feet of space to help make work life easier and more productive.
Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:
Startup Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Startup Funding News: Stay updated with the latest news and trends in startup funding and investment.
Startup News - Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.