Not long ago, we had coined the BHIVE team as the Mafia of Coworking in India. They are among the few early Coworking startups that emerged in the country. BHIVE started with one home grown coworking space in Bengaluru back in the year 2013. They haven’t looked back since then and have expanded rapidly.
Recently, the BHIVE founder Shesh Rao Paplikar had also revealed his episode with someone in the startup ecosystem about WeWork and how it could be a threat to existing startups. However, the BHIVE founders were very confident about the growth that they have amassed.
BHIVE Raises $1.2 M Funding By Blume Ventures
Yesterday, BHIVE announced that they have received a funding of $1.2 Million led by Blume Ventures. Leading investors including Actor-Director Ramesh Aravind, SKCL MD Meera Reddy and other high net-worth individuals have also participated in the round.
Rapid Growth and Expansion of BHIVE Coworking
In an interview with ET Tech, Shesh Rao Paplikar, Co-Founder BHIVE said “In the last two years, we’ve expanded our co-working space rapidly and currently have 10 centres within Bangalore. We’ve focused on the right mix of hospitality and technology to deliver a superior co-working environment, and have applied principles of lean start-up to achieve operational efficiency. We want to leverage our expertise to benefit more companies and start-ups,”
Prior to this funding, BHIVE had raised $1m from Blume Ventures and some other marquee investors including TaxiForSure founder Raghunandan G; venture capitalist Rajesh Rai, Venture Capitalist; Hive Technologies MD Arihant Patni; Mirchandani Group owner Sanjay Mirchandani and UK India Business Council director Arun Narayan, Director among others.
Bright Days for Coworking Industry in India
According to recent funding raised by Awfis, Innov8, Instaoffice and now BHIVE, the future of Coworking industry in India looks very bright. With the introduction of WeWork into India, the battle amongst the coworking spaces is getting more interesting day by day. However as a whole, the developments reflect that Coworking as a domain is growing in the country.