[Funding alert] EV tourism startup B: Live raises Rs 4 Cr from DNA Networks
Electric vehicle tourism startup B: Live on Friday said that it had raised strategic investment of Rs 4 crore from entertainment and event management entity DNA Entertainment Networks Pvt. Ltd.
The startup plans to use the funds to expand its presence in the country and strengthen its technology platform. In addition, B: Live is looking to launch across 10 new locations in India over the next 12 months.
B: Live had raised Rs 1 crore earlier this year as seed capital fund, which was led by Shrinivas V Dempo, Chairman of Goa’s leading business house Dempo Group, and Shivanand V Salgaocar, Chairman and Managing Director, Vimson Group.
Founded by Samarth Kholkar and Sandeep Mukherjee, B: Live is an experiential eco-tourism startup that offers immersive tours, powered by smart e-cycles. It offers tourists an intimate experience of the culture and heritage of a destination on smart electric cycles, without compromising on comfort and style.
Samarth Kholkar and Sandeep Mukherjee, Co-founders, B: Live, said,
“We have curated a unique combination of EV technology and experiential tourism. Both sectors are growing at an exponential rate and we have the first-mover advantage. With strong support from the Ministry of Tourism, state governments, and major hospitality chains, we aim to launch across 10 new locations in India in the next 12 months and 30 locations by 2023. We are also exploring popular experiential tourism destinations in Southeast Asia and have received a good market response.”
The founders also claimed that B: Live had completed over 2,000 rides and helped save close to two tonnes of CO2 emissions in less than one year of its launch. Currently, B: Live works closely with multiple state governments to encourage early adoption of electric vehicles across all tourist destinations in India.
DNA has made this strategic investment in B: Live to help build unique travel experiences led by innovation and technology.
Speaking about the investment, Dr T Venkat Vardhan, Chairman and Managing Director, DNA Networks, said,
“The experiential tourism industry is growing more than 100 percent year on year. Electric vehicles are the future of mobility. Creating extraordinary consumer experiences has been the core of DNA Networks and we are happy to partner with B: Live, an eco-tourism startup that combines EVs with experiential tourism. The company is on a growth path and will soon be available across all tourist destinations in India and abroad.”
Currently operational in Goa, Pondicherry, and Gujarat, the company serves guests from premium hospitality chains like Taj, Club Mahindra, Marriott, Hyatt, Hilton, Novotel, Radisson etc to name a few.
(Edited by Teja Lele Desai)