Incuspaze Raises Rs 150 Crore and Acquires iKeva to Make Hyderabad South India Hub

Workspace solution provider Incuspaze has designated Hyderabad as its strategic hub for South India after raising Rs 150 crore in a funding round and acquiring workspace provider iKeva. The company announced the major expansion on 2 July 2026, marking a significant step in its growth within the southern Indian commercial real estate market.

The funding round was led by the Bharat Value Fund, with additional participation from other financial institutions. According to the company, this capital will be used to strengthen its presence in key commercial markets, accelerate technology investments, and pursue further acquisitions. These strategic initiatives are aimed at preparing the company for a planned public listing in FY29.

A key element of this expansion is the acquisition of iKeva, which allows Incuspaze to strengthen its leadership across South India. This acquisition is expected to accelerate the company's growth strategy targeting enterprises, Global Capability Centres (GCCs), and managed workspaces.

The acquisition enhances the portfolio of Incuspaze by adding 18 centres and over 5 lakh square feet of workspace across both Hyderabad and Bengaluru. Prior to this acquisition, Incuspaze already managed a portfolio of over 5 lakh square feet of workspace specifically within Hyderabad. Following the designation of the city as its South India hub, the company plans to add another 5 lakh square feet in Hyderabad by the end of FY27.

These developments are projected to contribute towards the company's ambitious financial goals. Driven by a combination of organic expansion, increased enterprise occupancy, and strategic acquisitions, Incuspaze is aiming to achieve a revenue target of Rs 1,000 crore for the FY28–29 period.

Sanjay Choudhary, the Founder and CEO of Incuspaze, emphasized the strategic value of the deal. "The acquisition of iKeva is not merely an expansion of our footprint, it is a strategic step towards building a stronger enterprise workplace platform across the region," Choudhary said.