SUMMARY
- Incuspaze is in talks to secure funding of $25 million in its pre-IPO funding round.
- Incuspaze intends to purchase an additional 2 Mn sq ft by the year-end of 2025.
- The company is aiming to go public in 2025.
Coworking space startup Incuspaze is in talks to secure a funding of $25 million (Rs 211 crore) in its pre-IPO funding round.
The company is aiming to go public in 2025 as per ET.
The report mentions that Incuspaze intends to purchase an additional 2 Mn sq ft by the year-end of 2025. In response to the increasing demand for flexible workspaces, the company is focusing on the development of new locations in Delhi NCR, Pune, Bengaluru, and Hyderabad.
Established in 2016, Incuspaze has provided coworking spaces for professionals and businesses throughout India. The company has a portfolio of over 33 locations in various cities across the nation.
In July, the startup secured $8 million (Rs 67 crore) in its first funding round led by India Inflection Opportunity Fund and additional financial backers. This funding was aimed at expanding its network of flexible workspaces and upgrading its technological infrastructure.
The spaces are currently occupied by well-known companies such as PhonePe, Flipkart, and Health Prime, among others.
This development comes at a time when the coworking space industry is thriving on the back of the initial public offering (IPO) of Awfis earlier this year. Awfis’ stock debuted on the BSE in May at Rs 432.25 per share, marking a premium of 12.8% over its issue price of Rs 383. Since then, the stock has seen profitable performance and positive outlook.
Other coworking space startups, including DevX, Smartworks, and IndiQube among others, are preparing to list their stocks on the stock exchanges in the upcoming year.
