Incuspaze, a coworking space startup, has raised $8 million (approximately INR 67 crore) in its first funding round, led by India Inflection Opportunity Fund (IIOF) and other financial institutions.
CEO Sanjay Choudhary noted that the funding will enhance the company’s ability to offer high-quality workspace solutions tailored to enterprises, MSMEs, and startups.
The raised capital will be used to expand Incuspaze’s network of flexible workspaces and improve its technological infrastructure, according to a company statement.
IIOF, managed by Madhu Lunawat, has invested in eight promising companies, including Nurture Well Foods, Vardhman Group, and MKC Agro Fresh.
Founded by Choudhary in 2016, Incuspaze provides coworking spaces for professionals and companies across India. The company reports a network of over 33 workspaces in various cities nationwide.
Notable tenants include PhonePe, Flipkart, Health Prime, and others.
BYJU’S, a well-known edtech startup, was also a client but faced issues in November 2023 when employees at the Incuspaze co-working space in Gurugram were asked to leave due to unpaid rent.
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By Proptechbuzz
By Ravi Kumar
