Bengaluru-based coworking space BHIVE Workspace has raised $1.2 Mn in a fresh round of funding. This round of funding was led by Blume Ventures, along with investors including actor-director Ramesh Aravind, Meera Reddy (MD of SKCL), and other high net-worth individuals.

The recently raised funds will be used to fuel its pan-India and international expansion. As per a company statement, BHIVE is planning to expand to other major cities of India and across Asia in the coming months.

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. It is currently spread over 100,000 sq. feet of space in 10 centres in Bengaluru.

It was launched in November 2014, and provides 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 organisations, regardless of their size and form.”

In May 2016, it raised about $1 Mn in a funding round led by Blume Ventures. Prior to that BHIVE had raised 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.

In April 2017, collaborative coworking space provider Awfis raised $20 Mn from Sequoia India. In September 2016, CoLife, a network of shared living and working spaces, had secured $1 Mn Seed funding from undisclosed investors.

Other startups in this domain, apart from BHIVE Workspace, include InstaOffice, Innov8, 91springboard and others.

Source: Inc42