Bangalore, India-based wealth tech platform Bhive.fund raised strategic investment on May 12, 2022. Gruhas Proptech, co-founded by Nitin Kamath (Zerodha’s co-founder) and Abhijeet Pai of Puzzolana, participated in the funding. The round also saw participation from Blume Ventures. Meanwhile, leading marquee investors such as Sreeram Reddy Vanga of Kofluence and Leadsquared founders Nilesh Patel and Prashant Singh also invested in the Bhive.fund.
Purpose of Funding for Bhive.fund
The startup plans to utilize the proceeds for building a comprehensive technology platform to scale operations. It will also look to build a strong investment team and educate customers on the alternative asset space. Bhive.fund plans to raise USD 1 million in a pre-Series A round to fuel its growth.
Earlier in 2021, Bhive.fund raised a seed round from investors such as Madhusudan, co-founder and CEO of KreditBee; Durgesh Kaushik, senior director, Coinbase; Alok Bajpai, CFO of Adani Connex, and others.
What the founders have to say
“Kamath brothers are the most successful & the biggest inspiration for all of us in the startup ecosystem. They command the highest respect in the industry. Having Nikhil back us at this stage is a big boost for us and a great validation for our business model, “said Shesh Rao Paplikar, Co-founder and CEO, of BHIVE.fund.
“Blume Ventures has always been a very big supporter of us. They were the key investors of our previous startup, which is into coworking. By making an independent investment into our fintech entity ‘BHIVE.fund’, they have shown great faith in the founders and our vision for the platform. This investment represents a significant milestone towards closing $1 million of Pre-series A. We have term sheets and commitments to the ongoing Pre-series A round, which will be closing soon,” he further added.
What the investors have to say
“We invested in ‘BHIVE Workspace’ through Blume Fund II in 2015. We have been closely working with Shesh and the team and have witnessed the grit and resilience the team has shown through the pandemic. Our team is excited about ‘BHIVE Workspace’ new venture – BHIVE.fund. We continue to believe in the capability of this team to build a robust business. They have evolved to be solving the current real estate problem and are building a scalable business in an ever-growing commercial real estate market in India,” said Sarita Raichura, Vice-President, Blume Ventures.
“I have always been a big believer in Commercial Real Estate as an investment class. Technology disrupts this segment and will bring in more investors through a fractional real estate mechanism. A similar model adopted by ‘BHIVE Workspace’ to the broader alternative asset class is set to grow. I am very happy to come in as an investor and join Shesh and the team on their journey,” said, Sreeram Reddy Vanga, Investing Founder, Kofluence.
About Bhive.fund
Shesh Rao Paplikar, Sandeep Gupta and Monnappa Bayavanda set up BHIVE.fund in 2021. The wealthtech startup provides individual investors with an opportunity to invest in a safe high-return asset class such as commercial real estate, business investments and international real estate. The platform has already achieved product-market fit and has reached a million dollars per month sales run rate. The company provides their users with an app on Android and Apple with ‘BHIVE Real Estate & Alts’. The app gives users the flexibility to go through all the live opportunities. Moreover, it also allows users to evaluate the ones that best fit their risk-return profile.
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