Incuspaze, who operates 50+ centers across 18 cities with 371.6k sqm of workspace, acquired Pune-based Trios in an undisclosed cash and equity deal expected to boost annual group revenue by 10-15% toward its €408-467M target for fiscal 2025-26.

Trios, founded in 2017, operated 12 coworking spaces across Pune and Gurugram managing 14k sqm, with the co-founders remaining to support integration.

Separately, OYO-backed Innov8 sold a 3% stake at approximately €115M valuation and plans to double its footprint to 100 locations by year-end, reporting €6.82M profit after tax for FY 2023-24 compared to €275,000 the previous year. The simultaneous transactions highlight rapid consolidation and investor confidence in India’s flexible workspace sector, as Incuspaze is also launching FlexLeaze, an enterprise fit-out platform.