BHIVE Group acqui-hires product engineering firm to fortify technology in its operations

BHIVE Workspace, a leader in shared office spaces in India, has announced its first acqui-hire, bringing on board the product-engineering firm Praemineo. With this, the company aims to enhance its technology capabilities, particularly in its coworking and fintech sectors.

How will it impact BHIVE?

The acqui-hire deal includes a 10-member team from Praemineo, along with co-founders Rohit Parab and Gaurav Gandhi, supporting BHIVE's growth and business management. Integrating the Praemineo team into BHIVE involves key positions within the organization.

The acquisition will bolster BHIVE's operations in various areas, including financial management, approvals processing, and issue identification. It will also enhance lead generation and decision-making processes, which are crucial for managing BHIVE's extensive coworking space portfolio, which spans 1.5 million square feet across 25 locations.

Solving pain points 

Shesh Rao Paplikar, Founder & CEO of BHIVE Group, said, “As a new age organisation, BHIVE is always on the lookout to identify occupiers’ pain points and solve it through our business and technology offerings while joining hands with companies in the ecosystem where we find synergies."

 Praemineo's co-founders, Rohit Parab and Gaurav Gandhi, said, “We are pleased to be a part of BHIVE and aim to build industry-first solutions to contribute to their vision of becoming India’s largest and most comprehensive platform for commercial real estate rental solutions, driven by a customer-centric mindset”.

Focusing on enhancing business efficiencies 

In 2023, BHIV added a million square feet to its portfolio and a transformation in its offerings. The current acqui-hire is expected to further enhance BHIVE's business efficiencies and fiscal prudence.

Currently, BHIVE's coworking portfolio stands at 1.5 million square feet with over 42,000 seats across Bengaluru. The company's recent launch of India’s largest shared office space in the city underscores its commitment to revolutionizing coworking spaces and democratizing investments in Bengaluru.

BHIVE offerings

BHIVE Group integrates Commercial Real Estate (CRE) and Investment Platforms, focusing on aiding entrepreneurs and investors. It encompasses BHIVE Workspace, BHIVE Alts, and BHIVE Capital. The group is known for its extensive network of coworking spaces, with over 25 locations and 45,000 seats, and its expertise in investment through BHIVE Capital. This acqui-hire marks a significant step in BHIVE's journey towards redefining commercial real estate and financial services

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