BHIVE Technology a Bangalore based coworking space has raised a funding of around $1 million from Blume Ventures. It plans to expand their business in Delhi and Mumbai. Earlier BHIVE raised funding from Raghunandan G founder of TaxiForSure, Arihant Patni MD at Hive Technologies and Rajesh Rai Co-founder of Venturesity.
BHIVE workplace was founded in 2014 by Shesh Paplikar NITK alumnus and ex bloomberg, Ravindra M.K is ex-SAP and head of Sales and Marketing, Sanjay Mirchandani owner of Mirchandani group, Arihant Patni MD at Hive Technologies and Arun Narayan Director at Uk Indian Business Council.
With 24*7 access BHIVE workplace provides a fully equipped workspace with Wi-Fi experience, round the clock security, UPS & generator backup, laser printer, open office environment, scanner, events area, video conferencing, terrace garden, unlimited tea & coffee, conference rooms, phone booths, discussion rooms, lounge facilities to the occupants and cafeteria.
Currently the startup operates in 4 locations, with 800 active members and catering to over 150+ ventures. The funds will be used to technology upgradation to enhance customers experience, to attract top talented people. BHIVE competes with 91Springboard, One Internet, Innov8 among others.
Shesh Palikar, CEO and Co-Founder at BHIVE Workspace said
“We are super excited to have a reputed institution like Blume backing us. This is a very strong validation to what we have been doing so far. Managed workspace is a fast growing market globally and a multibillion dollar opportunity even in a single city like Bangalore. We will use the funding money for expansions both in Bangalore and in other major Indian cities before we venture beyond India. We will also use the money to attract top talent. We will also invest very strongly in technology, processes and brand building. We plan to have over 2 million square feet of office space under BHIVE management across 6 major Indian cities over the next 2 years.”
Karthik Reddy, managing partner at Blume Ventures, said about BHIVE
“They are already fine-tuning a template that can scale across all the rapidly growing ecosystems in the country. When they achieved 100 per cent occupancy in their largest space, we knew that they were onto understanding the dynamics and pricing policies that could make coworking spaces/ shared spaces a success.”