ADVERTISEMENT
By
Wealthtech platform BHIVE.fund raises strategic investment from Blume Ventures, others
Photo Credit: 123RF.com

BHIVE Group, which operates the wealthtech platform BHIVE.fund said it has raised strategic investments from Zerodha co-founder Nikhil Kamath, Gruhas Proptech co-founder, Abhijeet Pai and Blume Ventures. The amount of the investments is undisclosed.

BHIVE said it will use the capital for business growth, building comprehensive technology to enable customers to evaluate and invest in asset classes, global expansion and increase BHIVE's market share. 

According to BHIVE's statement, the platform is structuring the teams to bring in more education around the investment options and help the customers to build more wealth. 

Other investors who participated in this round include Alok Bajpai (CFO at Adani Connex), Durgesh Kaushik (senior director at Coinbase), and Madhusudan Ekambaram (CEO and co-founder of KreditBee), among others. 

Kamath and Pai invested in the platform via Gruhas Proptech which was co-founded by them. Gruhas claims to be India's largest proptech-focussed entity. 

Launched in 2021 by Shesh Rao Paplikar, Sandeep Gupta and Monnappa Bayavanda, BHIVE.fund offers retail investors an opportunity to invest in a high-return asset class of commercial real estate. BHIVE Group also operates BHIVE Workspace which provides a fully equipped workspace with 24x7 access, round-the-clock security, wi-fi, UPS and generator backup, an open office environment, among other facilities.

"Nikhil and Abhijeet are big believers that huge disruptions are possible in the commercial real estate space using technology. While not all investors may understand this space well, Abhijeet comes with a wealth of experience and expertise in the commercial real estate sector, having been involved in many large deals. Nikhil, as we all know, is one of the biggest names in the wealth tech space," said Paplikar. 

In 2017, BHIVE Workspace raised $1.2 million (around Rs 7.7 crore) in a funding round led by existing investor Blume Ventures. It also raised $1 million (around Rs 6.7 crore) in a funding round led by Blume Ventures in 2016. 

Leave Your Comment(s)
OPEN APP