Incuspaze Secures $8 Million from India Inflection Opportunity Fund
Gurugram-based flexible workspace provider Incuspaze has successfully raised $8 million in its maiden funding round, with the investment led by the India Inflection Opportunity Fund (IIOF) and supported by other undisclosed financial institutions.
The India Inflection Opportunity Fund, a category-2 alternate investment fund (AIF) with a fund size of ₹500 crore, was launched in 2022. This infusion of capital will enable Incuspaze to expand its network of flexible workspaces, enhance its technological infrastructure, and continue delivering innovative and customized workspace solutions to its diverse clientele.
“Owing to the growing demand for flex office space in the market and the increase in inquiries received, Incuspaze is in talks to further raise $15 million for growth plans, which include acquiring Grade A offices in major metro cities,” said Sanjay Choudhary, the Founder of Incuspaze.
Earlier this month, Incuspaze leased 1.15 lakh square feet of office space in East Bengaluru’s Whitefield area. The company also plans to expand its footprint in neighboring Chennai and Hyderabad by 2 million square feet over the next two years. Additionally, it leased 5.8 lakh square feet of office space in Gurugram, including 2.20 lakh sq ft in M3M Urbana Premium on Golf Course Extension Road, and 3.5 lakh sq ft in Udyog Vihar.
“The funds will be instrumental in accelerating our expansion plans and enhancing our service offerings to meet the evolving needs of our clients,” said Sanjay Chatrath, Managing Director of Incuspaze. Founded in 2016, Incuspaze has expanded its presence across 18 cities in India, with a portfolio spanning 3 million square feet across 44 locations.
“Our investment aligns with our strategy of backing companies with strong potential for long-term success and profitability,” said Madhu Lunawat, Chief Investment Officer of India Inflection Opportunity Fund. Managed by the Pantomath Group and headquartered in Mumbai, IIOF specializes in late-stage venture capital investments, focusing on companies poised for pre-IPO stages with clear strategies for stock market listing. The fund is gearing up to launch its second fund worth ₹2,000 crore.
With the recent funding, Incuspaze is aiming to significantly expand its operations and infrastructure, catering to the rising demand for flexible office spaces in India.
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