CoWorking startup GoHive raised $25M in a Seed round funding

Paras Trinity, Gurgaon, CoWorking startup GoHive's workplace
Workplace: Paras Trinity, Gurgaon

A Gurgaon Haryana-based CoWorking startup, GoHive on Aug 2, 2019, raised $25M in a Seed round of funding. Earlier, on August 1, 20018, StartUp GoHive raised $10M in a seed round of funding from undeclared investors.

GoHive startup founded in 2017 by Founder & CEO Mishu Ahluwalia. Mishu, an entrepreneur with more than 17 years of work experience, across domains like technology, real estate, and e-commerce.

Mishu stated on his LinkedIn profile, GoHive is currently operating three centers, with more than 300 seats. Startup GoHive aims to touch 10,000 seats by the end of 2020.

GoHive is the fastest-growing CoWorking startup, currently operating eight centers in Delhi & Gurugram, and soon entering Bengaluru & Mumbai.

Startup GoHive is working on the business model of a co-working workplace provider from an individual desk to inspiring workspaces for startups and SMEs. The company has a network of affordable and fully functional workspaces across 8 locations in Delhi & Gurgaon.

Startup GoHive providing Easy Pricing Plans from a day pass Rs. 500 to a monthly pass.

All locations have basic Amenities free like Fixed Desk, High-Speed Wi-fi, Unlimited Tea & Coffee, Access to Meeting Room, Attendance Tracking, Locker, Mail Handling, Private Cabin etc depending upon the selected plan.

The co-working business model is the best suite for the freelancers as well as for small to mid-sized companies, that don’t want to pay more on fixed assets. It is good for small businesses to get workplace in well-established locations with all basic facilities at affordable rates and as-needed basis.

India now has nearly 1,000 co-working spaces, data from a recent report by consulting firm Bain & Company and the Indian Private Equity and Venture Capital Association (IVCA) showed.

Market overview:

 Top 6 cities will require an estimated 5 million seats in co-working spaces, data by JLL.
 top 6 cities will require an estimated 5 million seats in co-working spaces.

The potential market size of co-working across India is expected to be 13.5 million users by 2020 about half of which will be from enterprises, which are expected to take up 10.3 mn seats, report by JLL.

“In India, the co-working segment is expected to grow by 40-50% in 2018 alone. By the end of the year, we anticipate flexible workplaces would attract investment up to US$ 400 mn. With over 200 premium business centers across the country, set to double by 2020, co-working spaces will reflect the global trend of being closer to 20% of total workspace”,

Sandeep Sethi – MD, Integrated Facilities Management West Asia, JLL.

The report further indicates that the top 6 cities will require an estimated 5 million seats in co-working spaces, while 8.5 million of the projected demand will be in Tier 2 and 3 cities.

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