BHIVE Workspace, Bengaluru’s largest coworking operator, is in advanced stages of raising up to ₹400 crore in its ongoing pre-IPO funding round. The fundraise, comprising a significant debt component and an equity infusion of about ₹100 crore, will strengthen BHIVE’s balance sheet and accelerate its expansion into key growth markets such as Pune, Hyderabad, and Chennai.
“This fundraise accelerates our journey towards an IPO while enabling rapid expansion into new markets,” said Shesh Rao Paplikar, Founder and CEO of BHIVE Workspace. “Bengaluru is India’s largest coworking market, and BHIVE has built a clear leadership position here by consistently delivering unmatched value to startups and enterprises.”
Founded in 2014, BHIVE has grown into Bengaluru’s largest coworking operator and the second-largest flex operator nationally. Over the past four years, the company has delivered a 150% CAGR, far surpassing the industry average of 41%. Its strong unit economics, operational discipline, and pioneering Campus-led Workspace model differentiate it from listed peers in the flexible workspace segment.
Ashish Fafadia, Partner at Blume Ventures, noted: “BHIVE has the potential to be one of the standout performers in the co-working and flex working space. The leadership has built a strong foundation that will lead to stronger growth with superior unit economics. We are aligned to take BHIVE public in the near to medium term.”
BHIVE’s growth outlook remains robust, with revenue targets of ₹500 crore by FY28 and ₹1,000 crore by FY30, driven by deeper enterprise penetration and a diversified portfolio spanning coworking, managed offices, virtual offices, and flexible access products.
Investor confidence remains strong. Alok Bajpai, Managing Director, India, NTT Global Data Centers, said: “BHIVE brings together a trusted founder and a highly scalable business model. Their growth and campus-led approach clearly demonstrate IPO readiness.”
A key differentiator for BHIVE is its Campus-led Workspace model, which develops large integrated office campuses combining premium workspaces with lifestyle infrastructure such as sports zones, cafés, lounges, and recreational amenities. Anchored in its philosophy of Work–Life Harmony, the model promotes productivity, wellness, and community.
With the equity round nearing closure, the remaining allocation is open to strategic investors, including family offices and HNIs seeking late-stage pre-IPO opportunities. The round offers a compelling chance to partner with a platform redefining India’s workspace ecosystem.
