Coworking and shared office space provider BHIVE Workspace has raised $ 1.2 million in a fresh round of funding. The funds will allow BHIVE to fuel its pan-India and international expansion of premium co-working spaces. The latest round is led by Blume Ventures, along with marquee investors like Actor-Director Ramesh Aravind, Mr. Meera Reddy, MD of SKCL and other high net-worth individuals.
In an earlier funding round in 2015, BHIVE raised around $1 million from Blume Ventures and high profile investors like Raghunandan G, Founder, TaxiForSure; Rajesh Rai, Venture Capitalist; Arihant Patni, Managing Director, Hive Technologies; Sanjay Mirchandani, Owner, Mirchandani Group; Arun Narayan, Director, UK India Business Council; among others.
The coworking space provider currently has 100,000 square feet of office space spread across 10 centres within Bangalore. Positioning itself as a premium coworking space BHIVE plans to expand into other Indian cities and Asia in the coming months. The company will be looking to leverage its premium hospitality and technology enabled centres to attract new members to their coworking spaces.
“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 their focus on creating experiences and making themselves relevant for virtually all organisations, regardless of their size and form.” Ashish Fafadia, CFO of Blume Ventures.
Co-working spaces have taken off globally, drawing a lot of interest from strategic investors. BHIVE’s latest round of investment saw participation from some of the top real estate developers in the country.
(With inputs from ANI)