BHIVE Workspace Raises $1 Million Funding Led by Blume Ventures

May 23, 2016May 23, 2016 BusinessWire India 0 Comment BHIVE, Blume Ventures, Workspaces

BHIVE Workspace, one of the well-known brands in Bangalore’s startup ecosystem, has raised about $1 million in funding led by Blume Ventures. BHIVE Workspace is the largest co-working space in Bangalore catering to over 150+ ventures. It is a world-class workspace provider, growing at a blistering pace and offering the most productive and vibrant workspace for all. From corporates to small businesses to freelancers, it offers a range of facilities that enable individuals and businesses to focus on their work and still have a community driven, vibrant work environment. BHIVE Workspace currently operates in 4 locations covering 50,000 sq. ft with over 800 active members. Its flagship center is currently running at 100% occupancy rates with many companies on waiting lists. It is a very transparent, professionally managed company that partners with landlords and ensures them a steady and predictable income.

BHIVE Workspace, launched in November 2014, believes in giving a complete experience to its members. Hence, it provides a fully equipped workspace with 24×7 access, round the clock security, best in class Wi-Fi experience, UPS and generator backup, open office environment, laser printer, scanner, unlimited coffee and tea, games room, events area, terrace garden, video conferencing, conference rooms, discussion rooms, phone booths, cafeteria and lounge facilities.

What makes BHIVE stand out is its ability to cater to a diverse audience and at the same time provide the best customer experience and flexibility to drive maximum productivity for all. They achieve this by building their own technology and customized processes. Moreover, BHIVE has been able to foster a vibrant community of business minds and individuals that actively participate in their events and community engagement initiatives.

BHIVE Workspace has a very strong management team, which comes with years of industry experience. Shesh Paplikar, CEO and Co-founder is an NITK alumnus and ex-Bloomberg. Ravindra M.K, Co-founder is ex-SAP and heads Sales and Marketing. Monnappa Bayavanda, COO is an alumnus of NITK and IIMA and ex-Amazon and ex-i2. BHIVE is also guided by a strong group of mentors including V. Sridhar, Raghunandan G and others.

Prior to this, BHIVE had attracted investments, from the likes of Raghunandan G (Founder, TaxiForSure), Rajesh Rai (Venture Capitalist and co-Founder, Venturesity), Arihant Patni (Managing Director, Hive Technologies), Sanjay Mirchandani (Owner, Mirchandani Group), Arun Narayan (Director, UK India Business Council) and others making it the largest co-working space in India’s startup capital Bangalore.

With this $1 million funding, BHIVE plans to expand strongly in Bangalore while also establishing a presence in the top 6 cities of India. The funds will also be used to attract top talent, build technology that will further enhance customer experience and in turn position BHIVE as an undoubted leader in the office space market.

On this occasion, Shesh Palikar, CEO and Co-Founder at BHIVE Workspace, says, “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 are one of the fastest growing companies in this space in the whole world as well as one of the most profitable on unit economics. We have a diverse global team and we are running at 100% occupancy level, with a long waiting list.

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.” he further added.

Have a look at the BHIVE story so far!