Incuspaze is actively planning to raise $25 million through a pre-IPO funding round as it prepares for a public listing next year.
The company recently secured $8 million (₹67 crore) in funding.
“Incuspaze plans to acquire another 2 million sq ft by investing ‘100 crore by the end of December 2025. On the back of the growing demand for flex spaces, Incuspaze is focusing on the development of new centres across Delhi-NCR, Pune, Bengaluru, and Hyderabad,” said a person who was aware of the development.
This move aligns with the rising demand for flexible workspaces in India, which is driving a surge in public listings. Major players in the industry are focusing on rapid expansion to meet market needs.
Awfis recently went public, becoming the second company in the flexible workspace sector to list after EFC (I). Similarly, Smartworks has filed initial documents with SEBI to raise funds through an IPO. Other prominent companies, such as Tablespace, Bhive, and WeWork India, are also gearing up for public listings in the near future.
Currently, Incuspaze operates a portfolio of 4 million sq. ft. across 18 cities in India. As of 2023, the country’s total flexible workspace stock stands at 62–64 million sq. ft. Experts predict this will grow to 116–118 million sq. ft. in tier-1 cities by 2027, with an impressive annual growth rate of 17%.
