What Incuspaze Office Spaces does

Incuspaze Solutions Private Limited, founded in 2016 and headquartered in Gurugram, is a pan-India managed office and coworking space operator serving enterprise clients, GCCs, MSMEs, and freelancers across 50+ locations in 18+ cities. The company's portfolio spans 4M+ sq ft with 80,000+ workstation capacity, organized around four core product lines: ready-to-move managed offices (with flexible lease terms), custom Design & Build projects, Fit-out / Asset Leasing solutions (including CapEx-to-OpEx conversion and sale-leaseback), and flexible coworking memberships (hot desks, dedicated desks, private cabins). Technology underpins the operating model with smart access control, meeting room scheduling, energy management, and real-time monitoring systems integrated across campuses, including LEED Gold certified sites such as HQ27 in Gurugram.

The business model is primarily subscription-based recurring revenue from long-term enterprise leases (annual billing) and per-seat monthly coworking memberships, supplemented by fee-based design/build and asset leasing streams. GTM is sales-led via dedicated enterprise field sales (Amit Ghoshal as MD Enterprise), on-site property sales across 18+ cities, and a self-serve website channel for SMBs. Incuspaze claims 500+ active clients including Wipro, Samsung, IBM, and HDFC, achieved 85% pre-pandemic occupancy in its coworking model, and has pursued an aggressive roll-up strategy with acquisitions of TRIOS (June 2025), VSKOUT (July 2025), and iKeva (June 2026 — adding ~Rs 100 crore annual revenue). The company targets Rs 1,000 crore revenue by FY29 and has signaled IPO plans within 24-36 months following its first institutional funding of approximately $8 million from India Inflection Opportunity Fund in July 2024.

Name

Incuspaze Office Spaces

Legal name

Incuspaze Solutions Private Limited

Website

https://incuspaze.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Incuspaze Solutions Private Limited is a Gurugram-based pan-India managed office and coworking operator serving enterprise clients, GCCs, and MSMEs across 50+ locations in 18+ Indian cities with 4M+ sq ft of inventory.

Ownership category

akta.pro rank

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices16 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Managed Office Services: Incuspaze generates primary revenue through providing fully managed office spaces with flexible lease terms. These include ready-to-move managed offices, custom design and build projects, and fit-out space solutions. Revenue is generated through recurring lease payments from enterprise clients.
2. Coworking Memberships: The company offers flexible coworking spaces with hot desks, dedicated desks, private cabins, and collaboration zones. Revenue comes from flexible membership plans and per-seat pricing.
3. Asset Leasing: Incuspaze offers end-to-end asset leasing solutions including wet and dry leases, sale-leaseback, and residual management. This stream includes financial flexibility options like CapEx to OpEx conversion.
4. Acquisition Revenue (iKeva): Following the 100% acquisition of iKeva, the transaction adds approximately Rs 100 crore in annual revenue to Incuspaze's consolidated top line.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Incuspaze provides ready-to-move managed office spaces, custom design and build projects, flexible coworking spaces, scalable traditional leases, and fit-out/asset leasing solutions across 50+ locations in 18+ Indian cities. The company targets enterprises, GCCs, MSMEs, and freelancers with tech-enabled, LEED Gold certified workspaces, enterprise-grade IT infrastructure, and flexible lease terms including zero-capex and CapEx-to-OpEx conversion options.

Differentiator

Problem solved

Functional benefit

Products and services

• Managed Office Spaces Ready-to-move managed office space with flexible lease terms, zero upfront capital expenditure, and full operational support including IT, housekeeping, security, and maintenance. Designed for enterprises and GCCs needing scalable workspaces with consistent delivery across cities.
• Coworking Office Spaces Flexible coworking space with hot desks, dedicated desks, private cabins, and collaboration zones. Offered via monthly memberships with per-seat pricing. Designed for freelancers, startups, and small teams seeking networking and a professional environment without long-term commitments.
• Design & Build Office Solutions Tailored workspace design and build projects from concept to execution, including real-time monitoring of project execution. Designed for enterprises seeking custom-built office environments.
• Asset Leasing Solutions Fit-out as a service with zero upfront costs, including wet and dry leases, sale-leaseback, and residual management. Provides CapEx-to-OpEx conversion with step-up or step-down payment structures aligned to business requirements. Designed for enterprises seeking financial flexibility on office fit-out and infrastructure.
• Traditional Office Leases Scalable traditional office leases across multiple Indian cities for enterprises seeking long-term conventional office space with Incuspaze's operational support.
• Enterprise Workspace Solutions (incl. GCC Setup) Enterprise-grade workspace solutions including multi-city managed office deployment, GCC setup and advisory, and large-scale infrastructure with enterprise-grade IT. Includes the GCC Advisory function led by Saumya Kumar. Designed for Fortune 500 enterprises and multinational GCCs establishing or expanding operations in India.

Quantifiable outcome

• Zero-capex workspace solutions eliminate upfront capital expenditure for enterprises setting up offices
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• iKevacoreStrategic or Co-development Partner · 1 June 2026Incuspaze completed a 100% acquisition of iKeva, bringing iKeva's sites, teams, and membership base into its operational fold. The acquisition adds Rs 100 crore in annual revenue through 18 workspace centres covering 500,000 sq ft across Hyderabad and Bengaluru. Integration focuses on standardizing services, consolidating back office functions, and introducing unified membership tiers.
• Million Minds Tech CityminorOthers · 1 May 2026Incuspaze leased 60,000 sq ft at Million Minds Tech City in the Ahmedabad-GIFT City corridor. The space can accommodate over 1,200 seats and was inaugurated by Union Home Minister Amit Shah on May 17, 2026.
• VSKOUTminorStrategic or Co-development Partner · 1 July 2025Incuspaze acquired B2B SaaS platform VSKOUT as part of strategic developments. The VSKOUT team joined Incuspaze, bringing data-first thinking to help enterprises plan, build, and experience their workplaces.

Scale indicators10 records

Recent moves14 records

Expansion highlights7 records

Direct peers

• WeWork India: India's largest managed office and coworking provider with pan-India metro presence. Directly competes with Incuspaze for enterprise and GCC clients with overlapping product offerings.
• Smartworks: Indian managed office provider with comparable enterprise and GCC focus. Direct competitor and the prior employer of Incuspaze's Managing Director Amit Ghoshal.
• Awfis Space Solutions: Listed Indian coworking and managed office provider with pan-India presence. Direct competitor with similar product mix spanning coworking, managed offices, and enterprise solutions.
• IndiQube: Bengaluru-headquartered managed office provider serving enterprise clients across India. Particularly direct competitor in South India where Incuspaze is expanding via iKeva.
• 91springboard: Coworking and flexible workspace provider with multiple Indian locations. Comparable coworking product offering, with a slightly more SMB and startup-skewed customer mix.
• Cowrks: Indian coworking and managed office provider serving enterprise clients across major metros. Direct competitor in the managed office category with similar target customers.
• Workafella: Premium coworking and managed office provider in India with locations across multiple cities. Direct competitor targeting enterprise and premium SMB clients with similar positioning.

Broad incumbents

• The Executive Centre: Premium serviced office provider operating across Asia-Pacific including India. Larger established player offering overlapping premium workspace services with a broader regional footprint.
• IWG (Regus / Spaces): Global leader in flexible workspace operating Regus, Spaces, and HQ brands in India. Significantly larger incumbent with global brand and capital - and prior employer of Incuspaze MD Amit Ghoshal.

Emerging players

• myHQ: Coworking aggregator and operator in India. Smaller emerging player with overlapping customer base in the SMB and freelancer segments where Incuspaze also competes.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/incuspaze
• YouTubeyoutube.com/@Incuspaze
• Facebookfacebook.com/incuspaze
• LinkedInlinkedin.com/company/incuspaze
• Instagraminstagram.com/incuspaze_coworking

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Incuspaze Office Spaces