Incuspaze Seeks $25 Mn In Pre-IPO Funding

Coworking space startup Incuspaze is in discussions to secure $25 Mn (around INR 211 Cr) in its pre-IPO funding round.

The India Inflection Opportunity Fund-backed company is looking to go public next year.

ET reported the development first.

Confirming to Inc42’s queries, Incuspaze said in a statement that the startup is currently involved in raising the new round of funding. However, it has declined to disclose the valuation details.

Founded by Sanjay Choudhary in 2016, Incuspaze offers a coworking space for professionals and companies across India. The company claims to own a network of over 33 workspaces in various cities in the country.

In July, the startup raised $8 Mn (around INR 67 Cr) in its maiden funding round led by India Inflection Opportunity Fund and other financial institutions to expand its flexible workspaces network, and enhance its technological infrastructure.

The workspace is occupied by known labels such as PhonePe, Flipkart, Health Prime and others.

This also comes at a time when coworking space providers are pumped by the performance of the existing flexible workspace startup Awfis went public earlier this year.

Awfis’ stock made its market debut in May, at INR 432.25 per share on the BSE, a premium of 12.8% to its issue price of INR 383. Since then, the stock has rallied on the back of profitable numbers and healthy outlook. 

It is pertinent to note that coworking space startups, including DevX, Smartworks and IndiQube among others across various sectors are on their way to get listed in the stock exchanges in the upcoming calendar year.

Updated at 11.39 AM

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