Incuspaze, a coworking firm that provides managed flexible office spaces to corporates, is looking to raise $25 million (over ₹210 crore) to expand its business across major cities before planning to start its initial public offer (IPO).
Established in 2016, Incuspaze has a presence in 44 locations across 18 cities with a total portfolio of 40 lakh square feet.
In the past six months, Incuspaze has enhanced its portfolio by adding 2 million square feet of office space across Delhi NCR, Mumbai, Chennai, Pune, Jaipur, Lucknow, and Bengaluru. In July this year, Incuspaze had taken on lease around 5.8 lakh square feet of office space from property owners in Gurugram to meet corporate demand.
The company plans to add another 2 million square feet of office space by December 2025, focusing on high-demand markets such as Delhi-NCR, Pune, Bengaluru, and Hyderabad.
Earlier this year, Incuspaze raised $8 million from the India Inflection Opportunity Fund and other financial Institutions.
“We plan to add another 2 million (20 lakh) square feet in our portfolio by the end of December 2025. We are looking to raise a pre-IPO round of USD 25 million. The company has a plan to launch its IPO in the next few years. The demand for premium office space remains strong, especially from multinational companies looking to set up Global Capability Centres (GCCs) in India,” said Incuspaze founder and CEO Sanjay Choudhary.
