BLive, an eco-tourism start-up which has pioneered the concept of Electric Vehicle Tourism in India, has raised an undisclosed amount from Mumbai Angels Network in its pre-Series A funding round. The funds raised will be used for developing tech infrastructure, market expansion and enhancing the consumer experience.
Including this undisclosed amount, the company has raised close to $1 million to date. Last September, the company raised an investment of Rs 4 crore from DNA Networks and earlier last year raised a seed funding round of Rs 1 crore led by Shrinivas V Dempo, Chairman of Goa’s leading business house Dempo Group and Shivanand V Salgaocar, Chairman, Vimson Group.
Founded in 2018 by Samarth Kholkar and Sandeep Mukherjee, BLive offers experiential, guided tours on smart electric bikes, thus promoting zero-carbon tourism in India. The company works closely with government bodies and hospitality chains to encourage early adoption of electric vehicles across all tourist destinations in India.
Speaking about the investment, Samarth Kholkar and Sandeep Mukherjee co-founders, BLive, said, "We are happy to receive strong investor interest despite the Covid19 situation. Our robust business model and consistent performance have proven we can bounce back quickly from the crisis. Amidst this crisis, Mumbai Angels helped us raise funds seamlessly and also connected us to its vast network of Investors in India. We will be deploying the funds towards expanding to new profitable markets with strategic hospitality partners.”
BLive experiences are available in Gujarat, Kerala, Karnataka, Rajasthan, Puducherry, Tamil Nadu and Goa. BLive is the official EV tourism partner of GTDC. The company also has tie-ups with hospitality partners like – Taj, Grand Hyatt, Airbnb, to name a few. Within a year of its launch, BLive has expanded to 9 top tourist destinations in India and has completed over 6000 rides, helping save six tonnes of carbon emissions.
“We are happy to welcome BLive into our expanding diversified portfolio. We are seeing a dynamic shift in how travel takes place and are hoping that BLive becomes a star in our portfolio. Domestic travel will flourish after the pandemic is contained and there’s a great potential for the company to grow and expand to newer markets” said Nandini Mansinghka, co-promoter and CEO Mumbai Angels Network.