AviBLive, an electric vehicle tourism startup, has now secured an undisclosed amount from the Mumbai Angels Network in the funding round of Pre-Series A.
The startup has now secured close to $1 million from a strategic investment by the DNA Network in the month of September 2019 and a seed funding round earlier last year, led by the Vinson Group, V Dempo.
The funds secured will be used for developing tech infrastructure, market expansion, and enhancing the consumer experience.
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.”
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.”