M&A

M&A

Incuspaze acquires rival co-working space provider iKeva

Business Line  

Gurugram-based flexible workspace provider Incuspaze has acquired Hyderabad-based iKeva . The acquisition was financed through a combination of internal accruals and external financial resources.Founded in 2012, iKeva is a co-working space provider with community and member benefits. It claims to offer high-quality office infrastructure, with solutions designed to make work-life productive and efficient.The integration of iKeva is expected to add approximately INR 100 crore to the revenue of Incuspaze in the current financial year. Following the acquisition, the firm plans to add another 5 lakh sq. ft. of office space during FY27.

In Jan 2019, iKeva had attracted about $ 0.3 M from Meenakshi Multiples.For FY25, iKeva had reported about INR 52 Cr in Operating Income and about INR 1 Cr in Net Loss.