Corvi LED bags $8M funding from Enam Investments
The funds will be used to expand operations and invest significantly in marketing and distribution to enhance the company's market presence in both B2C and B2B segments.
, a lighting product design company, has secured $8 million in Series B round led by Enam Investments.
The funds will be used to expand operations and invest significantly in marketing and distribution to enhance the company's market presence in both B2C and B2B segments, it said in a statement.
"While innovation has stagnated across the industry after the shift to LED lights, Corvi LED has continued to lead with our relentless focus on design, development (R&D), and efficiency. This infusion will further propel our efforts to pioneer new advancements in lighting technology, setting higher standards for sustainability and user experience," said Vimal Soni, Founder of Corvi LED.
"The LED market in India looks very promising due to the booming real estate, urbanisation, smart cities mission, and several technological advancements," he added.
Cipher-Plexus Capital Advisors served as the advisory firm for the transaction.
Founded in in 2012, the Mumbai-based company focuses on design, efficiency, and sustainability, offering over 100 products across seven categories. With over 100 patents and registrations, it has exported to 24 countries in Europe, the Middle East, Africa, and South-East Asia.
It plans to introduce a range of innovative LED products that cater to the modern demand for ergonomic design and aesthetics.
"We are extremely excited to be working with an Indian company that is designing genuinely best-in-class lighting products. We see tremendous potential in Corvi's approach to this industry. The team has demonstrated exceptional innovation and leadership in the LED sector. We are confident of their ability to create top-tier products that will redefine the lighting market in India," said Vallabh Bhanshali, Chairman of Enam Group.
Edited by Megha Reddy