Gurugram-based Incuspaze, a chain of premium co-working spaces, has appointed Mohit Srivastava as COO.
“I am excited about the prospects of Incuspaze and look forward to working with the team. In the past three years, Incuspaze has laid down a strong foundation and created immense value for its existing member base. The team has constantly innovated and built a differentiated product offering, which has enabled them to attract large marquee corporations such as Byju’s, Flipkart, NBHC and PhonePe to its portfolio,” Srivastava said in a statement.
Srivastava has over 19 years of experience in the travel, hospitality and technology sectors. In his previous stint, he served as online travel company Yatra’s vice president for the corporate vertical. Before that, he was with Oyo Homes and Oyo Asset Management. He also served as the managing director for Indian subcontinent and UAE at Airbnb, where his focus was to launch and grow the entity in those markets. He was also a part of the early founding team at MakeMyTrip.
“Mohit’s reputation for execution and achieving results precedes him, and I am sure his addition to the leadership team will contribute towards the growth of the company and ensure operational excellence. He will also be spearheading our key initiative of search- build-manage, which is aimed at providing enterprise-managed workspace solutions across the country to large corporations,” Sanjay Choudhary, founder and CEO of Incuspaze, said.
Incuspaze has doubled its revenue in the past six months and achieved profitability, the statement said, adding that it has expanded to 10 cities from five.
“We are now all geared up for a 5x growth in the coming financial year and reach 2 million square feet of managed real estate. Given our differentiated offering and focus on building a profitable business, investor interest for our series A has also been quite positive and we are continuously having dialogues with potential investors to close a round in the calendar year,” Choudhary said.
Incuspaze, established in 2017, manages about 4,00,000 square feet of real estate with 20 centres across 10 cities. The firm intends to reach a milestone of 1,00,000-member base across 30 Indian cities and eight international locations by 2022.
The co-working space, as a segment, is expected to gain a lot of traction this year. According to Anarock Property Consultant’s chairman Anuj Puri, this year is likely to see a rise in the ownership model -- developed in partnership with land owners, developers or space providers in the co-working spaces segment.