BHyve Raises $300,000 From JITO Angel Network And Others
The platform will use the raised funds for technology, marketing to enhance sales
Mumbai-based BHyve, a future of work platform for diffusing employee tacit knowledge and enabling peer learning networks, on Wednesday announced to have raised $300,000 from JITO Angel network along with LetsVenture and other marquee investors such as Dr Rajaram Samant, Dr Pramod Dhembale, Aman Sharma, Nilesh Patel, KRS Jamwal and others. Abhishek Rungta from Seeders led the round on LetsVenture.
BHyve will use the freshly infused capital for enhancing its technology and client acquisition.
The future of work is remote and collaborative. As companies transition towards remote work, they risk employees feeling unproductive and left out. BHyve addresses this by tapping into the most underrated company asset - the Tacit Knowledge of employees. Tacit knowledge is the wisdom, best practices, know-how, and experiences shared at watercooler conversations and cafeteria tables.
BHyve makes this wisdom accessible to employees on demand. BHyve's advanced algorithms connect employees to colleagues and knowledge that instantly augment their learning and get their problems resolved. BHyve's technology leads to a 35 per cent increase in productivity and a 30 per cent reduction in time spent looking for information and an engaged future-ready workforce.
In short, BHyve is the answer to build a future proof organization using AI, which makes unparalleled leadership (bench) strength within the existing set-up, creates and harmoniously encourages boundary-less employee culture, the platform shared.
"Raising money through JITO Angel Network has been an insightful experience. We appreciate the hands-on nature and speediness of the deal. With a supportive team, Great smart capital, and very progressive investment thesis has helped us to demonstrate our vision and get marquee investors on board," said Omkar Pandharkame, co-founder, BHyve.
Omkar Pandharkame, an organizational psychologist, Ketaki Ogale, an MBA from Fordham University, and Vihang Mirkhelkar, who has scaled technology for high-growth startups in Silicon Valley, are the co-founders of BHyve.
The startup was ideated during the pandemic and launched in February 2021 to ensure productivity and quick access to employee wisdom for a distributed and remote workforce. BHyve is incubated at Atal Incubation Centre, Rambhau Malge Prabodhini. BHyve currently serves leading corporations from BFSI, healthcare, pharma, and manufacturing sectors and will soon enter the North American Market.
"Employees are the most important assets of any company, and BHyve has an innovative platform to cater to the future of work. To remain competitive, all progressive companies around the globe will need this platform. At 100X.VC, we are delighted to be the first institutional investor in BHyve as we firmly believe that the founders' vision will make BHyve a truly global company," commented Ninad Karpe, partner, 100X.VC.
"We at JAN are happy to be a part of this journey with Omkar and his credible team and looking forward to transforming the way companies interact and leverage their internal resources," added deal lead, Keerthi Kumar, founder Insurepays, JITO JIFF Angel Network.