Fintech startups in India are attracting the eyeballs of investors. Founded in 2021, Bhive.fund, an alternative investments wealth tech platform, has attracted strategic investment from renowned investors including Nikhil Kamath, co-founder of Zerodha.
To accelerate the growth, Bhive.fund has planned to raise $1 million in a pre-Series A round. The funds will be used to scale technology, expand operations, create strong investment teams, educate customers about alternative assets, and build out its investment team.
“Having Nikhil back gives us a huge boost and is a validation of our business model. We already have terms sheets and commitments to our ongoing pre-Series B round, which will close soon,” stated Shesh Rao Paikar, cofounder & chief executive officer (CEO), of Bhive.fund.
The company has previously raised funds from other marquee investors. In its seed round it raised funds from Madhusudan (co-founder and CEO of KreditBee); Durgesh Kaushik (senior director at Coinbase); Alok Bajpai (CFO of Adani Connex), and others. The platform has already achieved product-market fit and has reached a sales run rate of a million dollars per month. Through the tech-driven platform, they enable individual investors to invest in business opportunities, domestic commercial real estate, and international real estate.
Nikhil’s investment was made through Gruhas, India’s largest proptech-focused investment entity. Gruhas is backed by Nikhil from Zerodha and Abhijeet Pai from Puzzolana.
Blume Ventures, another prominent investment firm, also participated in the investment round for Bhive.fund. It is a prominent VC firm having several unicorns in its portfolio.
Behive.fund was founded in 2021 by Sandeep Gupta, Monnappa Bayavanda, and Shesh Rao Papalikar. Individual investors can also invest in business opportunities, international real estate, and domestic commercial real property.
These funds will be used by the company to grow. The company intends to use these funds for growth, including building technology that scales operations, strengthening investment teams, and educating customers about alternative asset spaces.
Many other prominent investors, including Sreeram Reddy Vanga of Kofluence, Leadesquare founders Nilesh and Prasanth Singh, Kazi Arif Zaman along with a few NRIs from the US participated in the round.
“I have always believed in commercial real property as an investment class. Technology is disrupting the segment and will bring more investors through a fractional estate mechanism,” said Sreeram Reddy Vanga.