Incuspaze Seeks $25 Mn In Pre-IPO Funding

India Inflection Opportunity Fund-backed coworking space startup Incuspaze is reportedly in discussions to secure $25 Mn (around INR 211 Cr) in its pre-IPO funding round.

According to ET, the company is looking to go public next year.

Inc42 has reached out to Incuspaze for comments on the development. The story will be updated based on the response.

“Incuspaze plans to acquire another 2 Mn sq ft by the end of December 2025. On the back of growing demand for flex spaces, the company is focusing on the development of new centres across Delhi NCR, Pune, Bengaluru and Hyderabad,” the report quoted a source as saying.

Founded by Sanjay Choudhary in 2016, Incuspaze offers a coworking space for professionals and companies across India. The company claims to own a network of over 33 workspaces in various cities in the country.

In July, the startup raised $8 Mn (around INR 67 Cr) in its maiden funding round led by India Inflection Opportunity Fund and other financial institutions to expand its flexible workspaces network, and enhance its technological infrastructure.

The workspace is occupied by known labels such as PhonePe, Flipkart, Health Prime and others.

This also comes at a time when coworking space providers are pumped by the performance of the existing flexible workspace startup Awfis went public earlier this year.

Awfis’ stock made its market debut in May, at INR 432.25 per share on the BSE, a premium of 12.8% to its issue price of INR 383. Since then, the stock has rallied on the back of profitable numbers and healthy outlook. 

It is pertinent to note that coworking space startups, including DevX, Smartworks and IndiQube among others across various sectors are on their way to get listed in the stock exchanges in the upcoming calendar year.

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