BHIVE Workspace Set to Raise INR 400 Cr Pre IPO Funding Round The company views this pre IPO round as a key milestone as it prepares for a planned public listing in 2027.

BHIVE Workspace, a Bengaluru-based coworking operator, is close to completing a fundraise of up to INR 400 crore as part of its ongoing pre IPO round.

The round includes a significant debt component from a consortium of lenders, along with an equity infusion of around INR 100 crore that is now in advanced stages of closure.

The equity portion has seen strong participation from high net worth individuals, family offices and several existing investors. The company views this pre IPO round as a key milestone as it prepares for a planned public listing 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 Workspace operates in the flex office segment, offering coworking and managed office spaces to enterprises, startups and professionals. The company currently runs more than 32,000 seats across over 28 centres in Bengaluru and Mumbai, spread across approximately 1.8 million square feet of workspace.

BHIVE's campuses are designed around a campus led model, typically located near metro corridors and built with a focus on Indian hospitality, value for money and lifestyle oriented amenities. These include cafés, lounges, sports zones and recreational facilities that aim to provide a complete office ecosystem.

Over the past four years, the company claims to have achieved a compound annual growth rate of about 150 percent, significantly higher than the industry average of around 41 percent. The growth has been driven by increasing enterprise demand for flexible office solutions and the company's focus on large integrated campuses rather than single floor layouts.

Ashish Fafadia, Partner at Blume Ventures, said, "The leadership has built a strong foundation that will lead to the company's growth trajectory getting stronger with superior unit economics. In the near to medium term, we are aligned to take BHIVE public given the long term potential of the business."

The company expects its revenue to cross INR 500 crore by FY28 and reach INR 1,000 crore by FY30. This growth is expected to come from deeper enterprise penetration and a diversified portfolio that includes coworking, managed offices, virtual offices and flexible access products.

With the equity round nearing closure, the remaining allocation is open to strategic investors, including family offices and high net worth individuals.