Hyderabad: Managed workspace solutions provider Incuspaze on Thursday announced that it has raised Rs 150 crore in a funding round led by Bharat Value Fund and other financial institutions and designated Hyderabad as its strategic hub for South India as part of its expansion plans.
The company said the fresh capital will be used to strengthen its presence in key commercial markets, invest in technology and pursue strategic acquisitions ahead of its proposed public listing in FY29.
Incuspaze also announced the acquisition of managed workspace provider iKeva, a move aimed at strengthening its presence in Hyderabad and Bengaluru and expanding its enterprise, Global Capability Centre (GCC) and managed workspace business.
Following the acquisition, the company said it now operates more than 80 centres across 18 cities in India. The acquisition adds 18 centres and over five lakh square feet of workspace across Hyderabad and Bengaluru to its portfolio.
According to the company, it currently manages over five lakh square feet of workspace in Hyderabad and plans to add another five lakh square feet by the end of FY27, taking its total footprint in the city to around one million square feet.
Founder and Chief Executive Officer Sanjay Choudhary said South India represents one of the company’s key growth markets, with Hyderabad offering strong opportunities due to the presence of multinational companies, Global Capability Centres, technology firms and startups. He said the city would serve as the company’s regional headquarters for South India.
The company has set a target of achieving Rs 1,000 crore in revenue within the next three years through a combination of organic growth, enterprise expansion and strategic acquisitions.
Managing Partner (India) Sanjay Chatrath said the rapid growth of Global Capability Centres in South India was driving demand for flexible and enterprise-grade managed office spaces, adding that the company intends to expand its offerings in the segment.
Established in 2016, Incuspaze provides managed office and enterprise workspace solutions for corporates, Global Capability Centres, startups and MSMEs.
