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Coworking startup Incuspaze raises $8M from Indian Inflection Opportunity Fund

Incuspaze plans to use the funds to further expand its flexible workspace network and revamp its technological infrastructure.

Coworking startup Incuspaze raises $8M from Indian Inflection Opportunity Fund

Monday July 22, 2024 , 2 min Read

Flexible workspace provider Incuspaze on Monday raised $8 million in its maiden round led by India Inflection Opportunity Fund (IIOF) along with other financial institutions. 

The 2016-founded Incuspaze plans to use the funds for further expansion of its network of flexible workspaces and revamping its technological infrastructure.

“This investment will significantly bolster our capabilities to provide top-tier workspace solutions tailored to enterprises, MSMEs, and startups. With our clear profitability matrix and enterprise-focused approach, Incuspaze is poised to become a dominant player in India's flexible workspace market," Sanjay Choudhary, Founder and CEO of Incuspaze, said.

According to the company, it currently has extensive real estate portfolios in major Indian cities and follows a hub and spoke model for businesses trying to set up satellite offices based on their employees’ locations. Incuspaze has 44 locations across 18 cities for Tier I and Tier II clients, with a total portfolio of 3 million square feet. 

Commenting on the fundraise, Madhu Lunawat, Chief Investment Officer, India Inflection Opportunity Fund said, "Incuspaze has demonstrated impressive growth and resilience in a competitive market.”

The investment aligns with IIOF’s strategy “of backing companies with strong potential for long-term success and profitability", she added.

Mumbai-based India Inflection Opportunity Fund (IIOF) is a  Category-2 AIF and has a fund size of Rs 500 crore. Launched in 2022 and managed by the Pantomath Group, it specialises in late-stage venture capital investments and focuses on companies in the pre-IPO stages. The fund is also gearing up to launch its second fund worth Rs 2,000 crore. 


Edited by Jyoti Narayan