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Coworking Space Startup Incuspaze Bags $8 Mn From India Inflection Opportunity Fund, Others
Inc42
·
1y ago
Medial
Coworking space startup Incuspaze has secured $8 million in its first funding round led by India Inflection Opportunity Fund. The investment will be used to enhance the company's workspace solutions for enterprises, MSMEs, and startups. India Inflection Opportunity Fund has previously invested in a range of companies, including Nurture Well Foods, Vardhman Group, and MKC Agro Fresh. The funding will contribute to Incuspaze's growth and expansion in the coworking industry.
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Co-working startup Incuspaze raises $8 Mn in maiden funding
Entrackr
·
1y ago
Medial
Workspace solution provider Incuspaze has raised around $8 million led by the India Inflection Opportunity Fund (IIOF) and other financial institutions in its maiden funding round. This strategic investment will beef up Incuspaze’s capabilities to provide top-tier workspace solutions to enterprises, MSMEs, and startups, the company said in a statement. Incuspaze claims that it has a portfolio of 3 million square feet in 18 cities across 44 locations. The firm recently leased 220,000 square feet of space in Gurugram’s M3M Urbana project. Led by Sanjay Choudhary, the eight-year-old firm aims to expand its portfolio in southern India, with a focus on Bengaluru, Chennai and Hyderabad. PhonePe, Byju’s, Flipkart, and Girnarsoft, among others are its top clients. For the fiscal year ending in March 2023 (FY23), Incuspaze reported a more than three fold jump in its operating revenue to Rs 50 crore against Rs 14.84 crore in FY22. During FY23, it managed to cut losses to Rs 98 lakh from Rs 5 crore. Incuspaze is yet to file its annual report for the last fiscal year (FY24). According to a June 2024 report by property consultancy Colliers, the flexible office space segment across the top-6 cities in India registered its highest ever quarterly demand in the April-June period. Bengaluru and Delhi-NCR alone accounted for 65% of the overall demand. In November last year, Pantomath Financial Services Group closed its pre-IPO fund called the India Inflection Opportunity Fund (IIOF) at $60 million. While Incuspaze has not commented on its IPO plans, the strategic money from the IIOF hints at a definitive public listing roadmap as the investment firm majorly invests in IPO-bound companies. In the co-working space, Awfis became the first Indian startup to get listed on the stock exchange. Recently, another co-working startup Smartworks took a step towards potential public listing and converted itself into a public company. Entrackr exclusively reported the development in the first half of July.
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Incuspaze, Unwelt.AI secure early-stage funding
VCCircle
·
1y ago
Medial
Incuspaze, a flexible workspace provider, has secured $8 million in early-stage funding led by the India Inflection Opportunity Fund (IIOF) and other financial institutions. The funding will be used to expand Incuspaze's network of workspaces and improve its technological infrastructure. Established in 2016, Incuspaze currently has a presence in 44 locations across 18 cities and a total portfolio of 3 million square feet. In a separate funding announcement, HR technology platform Unwelt.AI raised $125,000 in seed funding from Upekkha and Accelerator. Unwelt.AI uses artificial intelligence and data science to enhance employee experiences, offering AI-powered people analytics and solutions for improving talent retention.
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ETtech Deals Digest: Startup funding plummets 80% YoY to $58.3 million this week
Economic Times
·
1y ago
Medial
Startups saw a sharp decline in funding during the fourth week of July, with only $58.3 million raised compared to $293 million in the same period last year. This marks an 80.1% decrease in funding and a 72.3% drop from the previous week. Only eight funding rounds took place, down from 28 rounds last year. Space startup Unimech Aerospace secured the largest deal, raising $30 million in a funding round led by Steadview Capital, ValueQuest Scale Fund, and Evolvence India. Other significant deals included wealthtech startup Stable Money raising $15 million and flexible workspace provider Incuspaze raising $8 million. Nasher Miles, a direct-to-consumer luggage brand, also raised $4 million.
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Beyond Snack bags $8.3 mn; Dr. Doodley, Revivo get pre-seed cheques
VCCircle
·
7m ago
Medial
Beyond Snack, a banana chips maker, raised $8.3 million in Series A funding led by 12 Flags Group and others, aiming to expand globally and innovate products. Pet healthcare startup Dr. Doodley secured pre-seed funding to expand its veterinary services, while laundry service Revivo received pre-seed investment from Inflection Point Ventures to enhance technology and branding. Beyond Snack operates in 12 countries and seeks further growth, and Dr. Doodley serves 2,000 customers recently.
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Pantomath’s Bharat Value Fund raises $120 mn for mid-market deals
VCCircle
·
1y ago
Medial
Pantomath Capital Management's India Inflection Opportunity Trust has launched its second Category-II alternative investment fund, the Bharat Value Fund, with a target corpus of around $240 million. The fund aims to support mid-market companies in the core economy segment that promote the "Made in India" ethos. It has already secured commitments of over $120 million in the first close. The fund will focus on pre-IPO investment opportunities and is supported by sovereign funds, global investment firms, and Indian family offices. Pantomath's assets under management have now exceeded $250 million.
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India Inflection Opportunity fund bets on local consumer brand
VCCircle
·
1y ago
Medial
The India Inflection Opportunity Fund, managed by the Pantomath Group, has made an investment in a premium cookie and biscuit manufacturer based in Noida. The fund has previously backed companies such as Inventys Research, MKC Agro, Silver Pumps, and Vardhman Appliances.
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Bombay Shirt Company Bags $3.2 Mn From Singularity Ventures, CaratLane’s Mithun
Inc42
·
1y ago
Medial
Apparel brand Bombay Shirt Company has secured $3.2 million in a bridge funding round led by Singularity Ventures' Growth Opportunities Fund I. Other participants include Mithun Sacheti from CaratLane. Late last year, the parent company, Tomorrowland Apparels Pvt Ltd, issued 2,01,543 Series B Compulsory Convertible Cumulative Preference Shares (CCPS) to several investors. This latest funding comes four years after the startup raised $8 million in a Series B round. Bombay Shirt Company offers tailor-made shirts and other clothing items through online and offline channels, and currently operates 18 stores in multiple cities in India.
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OYO-Owned Innov8 Forays Into Managed Office Space Segment
Inc42
·
10m ago
Medial
- Innov8 has announced its plans to add 4 Mn square feet of managed office space in India in the next three years. - The startup is targeting Mumbai to build its largest managed office space project as part of its expansion strategy. - Innov8, founded in 2015 by Malik, currently operates premium coworking spaces across nine cities in India. - The company's expansion efforts aim to meet the growing demand for flexible workspace solutions in the Indian market. - Innov8 is recognized for its high-quality coworking spaces and is well-positioned to capture the market's increasing demand for such services. - The addition of 4 Mn square feet of office space demonstrates Innov8's commitment to becoming a key player in the coworking industry in India.
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Exclusive: Smartworks converts into public company
Entrackr
·
1y ago
Medial
Co-working space solutions provider Smartworks has converted itself into a public company. This marks the company’s concrete step towards its planned initial public offering (IPO). The board at Smartworks has approved the resolution to change the company’s status from private to public. Its name has now changed from Smartworks Coworking Spaces Private Limited to Smartworks Coworking Spaces Limited. The development comes on the heels of Smartworks’s $20 million funding round from Keppel, Ananta Capital Ventures Fund I, and others. Smartworks provides managed office spaces by leasing properties from real estate developers and subsequently subleasing them to enterprises or companies. The company has a presence across Delhi-NCR, Kolkata, Bengaluru, Chennai, Pune, Hyderabad, and others. As of March 2024, Smartworks has a presence in as many as 13 cities including Bengaluru, Kolkata, Delhi NCR, Mumbai, and Pune, and a portfolio of 41 centers spanning 8 million square feet. To date, the co-working space firm has raised over $50 million, including a $25 million raise from the Singapore-based Keppel Land in 2019. As per startup data intelligence platform TheKredible, NS Niketan LLP, which includes founder Neetish Sarda, among others, controls more than 45% stake in the company as of the last funding round. Smartworks demonstrated robust financial growth, with its scale nearly doubling to Rs 744 crore in FY23. However, like many growth-stage companies, its losses also rose by 44% to Rs 101 crore during the same period. The company is yet to file its annual results for FY24. In the co-working space, Awfis became the first Indian startup to get listed on the stock exchange. The Peak XV-backed firm was oversubscribed by more than 100x on the final day of bidding.
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Luma’s going to LA.
The Verge
·
29d ago
Medial
AI startup Luma is launching a new space in Los Angeles designed for filmmakers to explore its video generation technology, which has faced criticism for producing unimpressive and infringing content since its inception. The facility will function as a meeting, coworking, and educational environment, aiming to offer creative professionals the opportunity to experiment with Luma's tools. This initiative follows the initial backlash against the company's AI-generated content.
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