Workspace solutions provider Incuspaze has acquired real estate analytics startup VSKOUT in a cash-and-equity swap deal, marking its latest strategic move to strengthen capabilities in the Global Capability Centre (GCC) space.
The acquisition aims to support the creation of a dedicated vertical focused on helping GCCs and enterprises with site selection and commercial real estate strategies, the company said in a statement.
Founded in 2016 by Saumya Kumar and Pankaj Jain, VSKOUT is a B2B SaaS platform that delivers real-time data analytics for the commercial real estate sector, offering vacancy tracking, lease transaction data, occupier insights, and stack plans.
Following the deal, Kumar will lead Incuspaze’s new GCC vertical along with strategic research and data innovation, while Jain will enhance the company’s overall technology stack.
“By embedding VSKOUT’s real-time property intelligence into our workspace offerings, we’re unlocking smarter, faster, and more scalable solutions for our clients across India and global capability centres,” said Sanjay Choudhary, founder and CEO of Incuspaze.
This is Incuspaze’s second acquisition in recent weeks, having earlier taken over Pune-based TRIOS in a cash-and-stock deal as part of its expansion strategy.
The company now plans to roll out white-label data tools for developers and subscription-based property insights for enterprises, integrating VSKOUT’s technology with its broader service portfolio.
Founded in 2016, Incuspaze operates across 18+ cities in India, managing over 4 million sq ft of workspace. Its offerings span managed offices, coworking spaces, and traditional workspaces, serving clients like PhonePe, Flipkart, and Health Prime.
Financially, Incuspaze turned profitable in FY24, reporting a net profit of ₹1.5 Cr versus a loss of ₹98 Lakh in FY23. Operating revenue surged 77% year-on-year to ₹88.3 Cr in FY24, up from ₹49.9 Cr in FY23.
Looking ahead, the company is planning a public listing in 2026, with ongoing discussions to raise $25 Mn in pre-IPO funding. It previously secured $8 Mn in its maiden round led by India Inflection Opportunity Fund.
Incuspaze joins a wave of workspace firms eyeing the public markets, including IndiQube, DevX, Table Space, and WeWork India, following Awfis’ successful IPO last year. Smartworks is also set to open its IPO for subscription on July 10.
These moves come amid growing investor interest in India’s flexible workspace segment, which is projected to touch $40.47 Bn by 2030, reflecting surging demand for agile, scalable office solutions.
