Co-working business Incuspaze leases 3.25 lakh square feet of office space in Bengaluru

By Bricksnwall | 2024-09-09

Incuspaze aspires to achieve a footprint of 1 million square feet in Bengaluru and 2 million square feet throughout important cities in South India within a year.

Incuspaze, a flexible workspace provider based in Gurugram, has leased a 3.25 lakh square foot office space in Bengaluru's QUBE Software Park on the Outer Ring Road, according to a business statement issued on September 9. This latest building has a seating capacity of over 5,000.

The announcement comes one month after Incuspaze leased 1.56 lakh square feet of commercial space in Whitefield. The brand currently has a footprint of 4.81 lakh square feet in the IT capital.

According to the corporate statement, the co-working player plans to open 1 million square feet in Bengaluru and a total of 2 million square feet in important southern Indian towns.

Earlier this year, Incuspaze leased 5.8 lakh square feet of office space in Gurugram, including 2.20 lakh square feet at M3M Urbana Premium on Golf Course Extension Road and 3.5 lakh square feet at Udyog Vihar.

"The availability of vast land parcels and closeness to an established IT talent pool and residential areas makes the Outer Ring Road one of Bangalore's most appealing IT growth corridors."," stated Sanjay Chatrath, Managing Partner of Incuspaze.

Since its debut in 2016, Incuspaze has expanded to 44 locations in 18 cities, totalling 4 million square feet. The company serves a varied range of clients, including companies, MSMEs, and startups, offering managed office, co-working, and traditional workspace solutions.

Funding pipeline

Incuspaze revealed in late July that it had raised $8 million in its first investment round, which was led by the Indian Inflection Opportunity Fund.

With this latest round of funding, Incuspaze intends to grow its network of flexible workspaces, improve its technology infrastructure, and continue to provide creative and tailored workspace solutions to its broad clients, according to a company statement.

Source: Hindustan Times