Incuspaze Acquires SaaS platform VSKOUT To Build GCC Vertical

Workspace provider Incuspaze has acquired real estate-focussed B2B SaaS platform VSKOUT in a cash and equity swap deal to set up a dedicated GCC (global capability centre) vertical. 

In a statement, Incuspaze said that the acquisition of VSKOUT, which provides data analytics for commercial real estate, will help GCCs and enterprises in site selection and strategy.

The development comes weeks after Incuspaze acquired Pune-based TRIOS in a cash-and-stock deal.

Founded in 2016 by Saumya Kumar and Pankaj Jain, VSKOUT is a B2B SaaS platform which provides analytics tools and insights into India’s commercial real estate landscape. It caters to the needs of all industry stakeholders of the real estate sector. The flagship product of VSKOUT provides details of vacancy coverage, lease transaction information, occupiers’ information and stack plans of buildings. 

Following the acquisition, Kumar and Jain will join Incuspaze. While Kumar will lead the GCC vertical and the strategic research and data innovation initiatives of the combined entity, Jain will contribute to Incuspaze’s overall technology stack. 

Now, Incuspaze plans to launch white-label data solutions for developers and subscription-based insights for enterprise clients.

“By embedding VSKOUT’s real-time property intelligence into our workspace offerings, we’re unlocking smarter, faster, and more scalable solutions for our clients across India and global capability centres,” Incuspaze founder and CEO Sanjay Choudhary said. 

Founded in 2016 by Choudhary, Incuspaze provides workspace solutions to startups, SMEs and large enterprises. It has a presence in more than 18 cities and has more than 4 Mn sq ft area in its portfolio. 

It provides a range of solutions, including managed workspaces, coworking spaces and traditional workspaces. It counts the likes of PhonePe, Flipkart, and Health Prime among its clients. 

On the financial front, the Delhi NCR-based startup posted a net profit of INR 1.5 Cr in the fiscal year ended March 31, 2024 (FY24) against a loss of INR 98 Lakh in the previous fiscal year. Operating revenue zoomed 77% to INR 88.3 Cr in FY24 from INR 49.9 Cr in FY23. 

It is yet to file its financial numbers for FY25. 

Just like many other workspace providers, Incupsaze also has plans to go for an IPO next year. The startup is in discussions to secure $25 Mn in a pre-IPO funding round. It last raised $8 Mn in its maiden round led by India Inflection Opportunity Fund.  

Notably, a number of workspace providers are currently preparing for their public listings. While Awfis went public last year, the likes of IndiQube, WeWork India, DevX and Table Space are gearing up for their IPOs. Meanwhile, Smartwork’s IPO will open for subscription on July 10. 

Powering this IPO rush is India’s growing coworking space market, which is set to become a $40.47 Bn opportunity by 2030.