BHIVE Enhances Tech Infrastructure with Acquisition of Praemenio in a Strategic Move

• ByStartupStory     |    December 19, 2023

BHIVE Workspace, has announced a significant enhancement to its technology capabilities through the strategic acquihire of Praemineo, a distinguished product-engineering firm. This move aims to fortify BHIVE’s rapidly expanding coworking and fintech businesses. As part of the acquisition, BHIVE will absorb Praemineo’s 10-member strong team, including co-founders Rohit Parab and Gaurav Gandhi, who will play pivotal roles in supporting growth and business management within the BHIVE Group.

The acquihire is anticipated to bolster BHIVE in key areas such as financial management, approvals processing, issue identification, lead generation, and decision-making processes. This strategic move is crucial as BHIVE manages an extensive portfolio of 1.5 million square feet of coworking space across 25 locations and seeks to strengthen its foothold in the fintech sector. The transaction involves a composite structure, encompassing both cash and equity.

Shesh Rao Paplikar, Founder & CEO of BHIVE Group, commented on the acquihire, stating, “BHIVE is always on the lookout to identify occupiers’ pain points and solve them through our business and technology offerings. We are pleased to welcome Praemineo’s team to our family with our first acquihire as we further strengthen our business management with their state-of-the-art solutions.”

Rohit Parab and Gaurav Gandhi, Co-Founders of Praemineo, expressed their enthusiasm, saying, “BHIVE is a pioneer in the coworking space with their slew of offerings making them the preferred partner for occupiers’ office needs. 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.”

In 2023, BHIVE witnessed significant growth, adding a million square feet to its portfolio and transforming its offerings. This acquihire is expected to further enhance BHIVE’s business efficiencies and strengthen its fiscal prudence.

BHIVE’s coworking portfolio currently stands at 1.5 million square feet with over 42,000 seats across Bengaluru. Earlier this year, the company launched India’s largest shared office space facility in the city, covering 2 acres with over 8,000 seats and state-of-the-art amenities. BHIVE is recognized for its nuanced understanding of employee needs, attracting leading startups in healthcare, fintech, and other domains.

Follow Startup Story