India based eco-tourism startup BLive has raised an undisclosed amount in its pre-Series A round funding from Mumbai Angels Network.
BLive in its issued statement said, “It will use the new round funding for the expansion of its services in new locations.”
Founded by Samarth Kholkar and Sandeep Mukherjee in 2018, BLive is an electric-bike tour startup that provides curated, authentic and immersive local tours services in cities as Gujarat, Kerala, Karnataka, Rajasthan, Puducherry, Tamil Nadu, and Goa (North and South) and has completed over 6,000 rides.
Speaking on the Fundraise, Samarth Kholkar and Sandeep Mukherjee, Co-founders of BLive said, “Travel and tourism industry has taken a big hit due to the present pandemic crisis and that was expected to happen. Securing an investment amidst the present situation shows the confidence of investors in the potential of our business model and boosts our confidence to bounce back quickly.”
“Mumbai Angels not only helped us raise funds seamlessly, but it also connected us to its vast network of Investors across cities in India,” Samarth and Sandeep added.
Commenting on the investment in BLive, Ajay Pandey, Independent Director, and Angel investor said, “E Vehicles are now an integral part of our ecosystem. Many innovative solutions are emerging regularly all across. What I found interesting around the Blive venture is the fact that a services element linked revenue model has been wrapped around the e-bikes, which makes it a sustainable and healthy business option.”
Adding to the statement, Nandini Mansinghka, co-promoter and CEO of 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 is hoping that BLive becomes a star in our portfolio. We are extremely bullish about participating in this industry that will redefine mobility soon.”