BHIVE Set to Close ₹400 Crore Pre-IPO Fundraise to Accelerate Expansion, IPO Journey

Bengaluru, December 16, 2025: Coworking operator BHIVE Workspace is in advanced stages of raising up to INR 400 crore as part of its ongoing pre-IPO funding round, strengthening its balance sheet and supporting the next phase of national expansion.

The fundraise comprises a significant debt component from a consortium of lenders, along with an equity infusion of approximately INR 100 crore that is in advanced stages of closure. The equity round has seen strong interest from high-net-worth individuals (HNIs), family offices, and several existing investors. This pre-IPO round represents a key milestone as BHIVE progresses toward its targeted IPO in 2027.

Shesh Rao Paplikar, Founder and CEO of BHIVE Workspace, said, “Bengaluru is India’s largest and most competitive coworking market, and BHIVE has built a clear leadership position here by consistently delivering unmatched value to both startups and enterprises. This fundraise accelerates our journey towards an IPO while enabling rapid expansion into key growth markets such as Pune, Hyderabad, and Chennai.”

Founded in 2014, BHIVE has grown to become Bengaluru’s largest coworking and the second-largest flex operator. The city also stands as the world’s second-largest coworking market. Over the past four years, the company has delivered a remarkable 150 per cent CAGR, significantly outperforming the industry average of approximately 41 per cent. Its strong unit economics, operational discipline, and campus-led scale differentiate it from listed peers in the flexible workspace segment.

Ashish Fafadia, Partner at Blume Ventures, said, “BHIVE has the potential to be one of the standout performers in the co-working and flex working space, having navigated a challenging market during Covid and little after. The leadership has built a strong foundation that will lead to the company’s growth trajectory getting stronger with superior unit economics. At some point in time in the near to medium term, we are aligned to take BHIVE public given the long-term potential of the vertical and the business.”

BHIVE’s growth outlook remains robust. The company is on track to cross INR 500 crore in revenue by FY28 and INR 1,000 crore by FY30, driven by its campus-led expansion strategy, deeper enterprise penetration, and a diversified portfolio spanning coworking, managed offices, virtual offices, and flexible access products.

Alok Bajpai, Managing Director, India, NTT Global Data Centers and an investor in the ongoing round, added, “BHIVE brings together a trusted, passionate founder and a highly scalable business model, which gives me strong conviction in their long-term success. Their growth, customer focus, and rapidly scaling campus-led model clearly demonstrate IPO readiness. BHIVE is entering a very exciting phase, and I’m proud to continue supporting their journey.”

A key differentiator for BHIVE is its pioneering ‘Campus-led Workspace’ model, spread across Bengaluru and Mumbai. Unlike traditional coworking spaces limited to floor-wise layouts, BHIVE develops large integrated office campuses that combine premium workspaces with lifestyle infrastructure such as sports zones, cafés, lounges, shower facilities, and recreational amenities, catering to corporates seeking a complete office ecosystem.

This approach is anchored in BHIVE’s philosophy of ‘Work–Life Harmony,’ designed to help members thrive professionally while enjoying an elevated workplace experience that promotes productivity, wellness, flexibility, and community.

Saurabh Jain, Co-Founder, Stable Money, said, “BHIVE Premium HSR offers much more than office space – it provides a complete campus ecosystem that supports growth. Our teams benefit from multiple collaborative environments, seamless movement across spaces, and easy access to breakout and recreational zones. For a fast-growing company like ours, that kind of thoughtfully designed work environment makes a real difference.”

With strong investor confidence and 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 opportunity to partner with a platform that is redefining India’s workspace ecosystem.