Acquired: SaaS platform VSKOUT by Incuspaze, for crafting a GCC market-specific vertical
In a strategic move to capitalise on the rapidly growing coworking market in India, Incuspaze, a leading workspace solutions provider, has announced the acquisition of VSKOUT, a B2B SaaS firm specialising in data innovation and technology for the real estate and workspace sectors. This is the latest in a series of acquisitions by Incuspaze, which recently acquired Pune-based TRIOS.
The cash-and-equity swap deal for VSKOUT is expected to add Rs 20-25 crore (approximately $2.5-3 million) in annual revenue to Incuspaze's existing portfolio. Saumya Kumar and Pankaj Jain, founders of VSKOUT, will join Incuspaze following the acquisition, bringing their expertise in data analytics for commercial real estate.
Kumar will lead the GCC (global capability centre) vertical and the strategic research and data innovation initiatives of the combined entity. Jain will contribute to Incuspaze's overall technology stack. The acquisition is aimed at setting up a dedicated GCC vertical.
Incuspaze, founded in 2016 by Sanjay Choudhary, provides workspace solutions to startups, SMEs, and large enterprises. The company's clients include PhonePe, Flipkart, and Health Prime. In the fiscal year ended March 31, 2024 (FY24), Incuspaze posted a net profit of INR 1.5 Cr, up from a loss of INR 98 Lakh in the previous fiscal year. Operating revenue for Incuspaze increased 77% to INR 88.3 Cr in FY24 from INR 49.9 Cr in FY23.
Incuspaze is actively preparing for its IPO, targeting a public listing within the next 24 to 36 months (2 to 3 years). In the lead-up to this, the company is working on closing a significant $25 million pre-IPO funding round within the next few months, following its previous $8 million funding round last year.
The acquisition of VSKOUT aligns with Incuspaze’s goal to combine tech-led site intelligence with flexible office solutions, strengthening its position in the growing coworking and flexible workspace market in India. VSKOUT's flagship product provides details of vacancy coverage, lease transaction information, occupiers' information, and stack plans of buildings.
In terms of financial outlook, Incuspaze projects a substantial revenue increase from Rs 150 crore in FY25 to Rs 350-400 crore in FY26. This growth is expected to be driven by acquisitions and an expanding client base, fitting well with the broader expansion of India's coworking space and flexible workspace markets, which are being fueled by increased demand for flexible, tech-enabled office solutions.
The acquisition of VSKOUT is a significant step for Incuspaze as it looks towards its IPO and the future of the coworking market in India. With the growing demand for flexible, tech-enabled office solutions, Incuspaze is well-positioned to capitalise on this opportunity, thanks to its strategic acquisitions and focus on technology integration.
[1] Source: Incuspaze Press Release [2] Source: VSKOUT Press Release [3] Source: Economic Times [4] Source: Financial Express
- Incuspaze's latest acquisition of VSKOUT, a firm specializing in data innovation and technology for the real estate and workspace sectors, is aimed at combining tech-led site intelligence with flexible office solutions, strengthening its position in the growing coworking and flexible workspace market in India.
- Saumya Kumar, one of the founders of VSKOUT, will lead the GCC (global capability centre) vertical and the strategic research and data innovation initiatives of the combined entity, contributing to Incuspaze's overall focus on technology integration.
