BHIVE Workspace raises $1.2 Mn from Blume Venture and others

Bangalore-based co-working and shared office space provider BHIVE Workspace has raised $1.2 Mn in a fresh round of funding. The funding was led by Blume Venture with participation from the actor-director Ramesh Aravind, Meera Reddy and other high net-worth individuals.

BHIVE Workspace raises .2 Mn from Blume Venture and others

The raised funds will be utilized to fuel its Pan-India and international expansion in the coming months, the company said in a statement.

Shesh Rao Paplikar, co-founder and CEO, BHIVE Workspace said, “In the last two years, we’ve expanded our coworking space rapidly and currently have 10 centres within Bengaluru. We’ve focussed on the right mix of hospitality and technology to deliver a superior coworking environment, and have applied the principles of lean startup to achieve operational efficiency.”

BHIVE Workspace was founded by Shesh Paplikar, Ravindra M.K., and Monnappa Bayavanda in 2014. Currently, it operates in Bengaluru in 10 centres and offers a fully equipped workspace with 24×7 access, round the clock security, WiFi experience, UPS and generator backup, and an open office environment. Other amenities include a games room, events area, terrace garden, video conferencing, conference rooms, discussion rooms, phone booths, cafeteria, and lounge facilities to the occupants.

Ashish Fafadia, CFO of Blume Ventures said, “Since the first round, BHIVE continues to grow with a focus to help build and create great workplaces with best-in-class global standards for Indian corporates and office goers. Key strengths of BHIVE include the focus on creating experiences and making themselves relevant for virtually all organizations, regardless of their size and form.”

One of the key innovations by BHIVE has been its Internet technology, BuzzNet, which they said has attained the reputation of being the most reliable workspace internet in the country. BHIVE now plans to step up the level of hospitality and technology-enabled services at its centres.

In the Last year, BHIVE Workspace has raised $1 million from Blume Ventures and Raghunandan G, Founder, TaxiForSure along with Venture Capitalist Rajesh Rai, Arihant Patni MD of Hive Technologies, Sanjay Mirchandani Owner of Mirchandani Group and Arun Narayan Director of UK India Business Council.