[Funding alert] EV tourism startup BLive raises Pre-Series A investment from Mumbai Angels Network
Electric vehicle tourism startup BLive has raised an undisclosed amount from Mumbai Angels Network in its Pre-Series A funding round.
The startup had raised close to $1 million from a strategic investment by DNA Networks in September 2019, and a seed funding round earlier last year, led by Shrinivas V Dempo, Chairman of Goa’s business house Dempo Group, and Shivanand V Salgaocar, Chairman, Vimson Group.
The current funds raised will be used for developing tech infrastructure, market expansion, and enhancing the consumer experience, the startup said in a release.
Samarth Kholkar and Sandeep Mukherjee, Co-founders at BLive, said,
"Securing an investment amidst the present situation shows the confidence of investors in the potential of our EV tourism business. We will be deploying the funds towards expanding to new profitable markets with strategic hospitality partners.”
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 startup works closely with the government bodies and hospitality chains to encourage early adoption of electric vehicles across all tourist destinations in India.
Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network, said,
“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.”
BLive claims that its experiences are available in Gujarat, Kerala, Karnataka, Rajasthan, Puducherry, Tamil Nadu and Goa. It is also the official EV tourism partner of GTDC (Goa Tourism Development Corporation). The startup 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 nine tourist destinations in India and has completed over 6,000 rides, helping save six tonnes of carbon emissions.
Edited by Saheli Sen Gupta