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 company has raised close to 1milion USD from a strategic investment by DNA Networks and a seed funding round led by Shrinivas V Dempo, Chairman of Goa’s leading business house Dempo Group and Shivanand V Salgaocar, Chairman, Vimson Group.
The funds raised will be used for developing tech infrastructure, market expansion and enhancing the consumer experience. Founded in 2018 by Samarth Kholkar and Sandeep Mukherjee, BLive offers unique, experiential, guided tours on smart electric bikes thus promoting zero carbon tourism in India. The company works closely with the government bodies & hospitality chains to encourage early adoption of electric vehicles across all tourist destinations in India. The company envisions bringing in eco-tourism revolution in the country through curated experiences powered by electric vehicles.
Speaking about the investment, Samarth Kholkar & 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 has proven we can bounce back quickly from the crisis. Securing an investment amidst the present situation shows the confidence of investors in the potential of our EV tourism business. Amidst this crisis, Mumbai Angels helped us raise funds seamlessly and also connected us to its vast network of Investors India. We will be deploying the funds towards expanding to new profitable markets with strategic hospitality partners.”
Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network, said, “We are happy to welcome BLive in 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. We are extremely bullish about participating in this industry-defining the near future.”
BLive experiences are available in Gujarat, Kerala, Karnataka, Rajasthan, Puducherry, Tamil Nadu and Goa. B: Live is the official EV tourism partner of GTDC. The company also have 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.
Started in 2006, Mumbai Angels Network (MA Network) is India’s premier platform focused on new venture investing. The network is today 400+ members strong, across 8 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa, Pune and Jaipur). It has a 135+ strong portfolio with 30+ exits and has invested 150+ crores.
BLive- India’s first electric-bike tour brand offers curated, authentic and immersive local tours that can be experienced on smart, savvy, electric bikes. With BLive electric bike, one can cover longer distances and scale greater heights, almost anywhere in India. Powered by battery packs, our electric bikes can whizz through in a flash. Experience the joy of effortless riding and collect memories as you ride a new adventure to off beaten trails. Its well trained and informed captains ensure an informative, enjoyable and safe ride for all. See an unseen-local side of culture, history, food and festivals without leaving a carbon footprint behind. The guided e-Bike tours have been designed to help discover the hidden treasures of a destination while showcasing the best art, culture and cuisine.