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BHIVE is a co-working space in Bangalore catering to over 150 ventures and freelancers

Bangalore-based co-working space BHIVE has raised about US$1 million in funding led by Blume Ventures.

The company will use the funds to expand in Bangalore and establish a presence in the top 6 cities of India.

“Managed workspace is a fast growing market globally and a multi billion dollar opportunity even in a single city like Bangalore. We have a diverse global team and we are running at 100 per cent occupancy level, with a long waiting list,” said CEO Shesh Paplikar.

“We will use the funding 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 two years,” he added.

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Launched in November 2014 by Paplikar, Ravindra MK and Monnappa Bayavanda, BHIVE provides a fully equipped workspace with 24×7 access, round-the-clock security, 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.

BHIVE catering to over 150 ventures, including corporates and small businesses, besides freelancers.

It currently operates in four locations covering 50,000 sq. ft with over 800 active members.

Prior to this, BHIVE has attracted investments from the likes of Raghunandan G (Founder, TaxiForSure), Rajesh Rai (Co-founder of Venturesity), Arihant Patni (Managing Director of Hive Technologies), Sanjay Mirchandani (Owner of Mirchandani Group) and Arun Narayan (Director of UK India Business Council).

The post It’s a BHIVE of activity in this co-working space after a US$1M funding appeared first on e27.

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