EV tourism start up BLive raises funding from Mumbai Angels Network

EV tourism start up BLive raises funding from Mumbai Angels Network

April 15th, 2020: 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. BLive offers unique, experiential, guided tours on smart electric bikes thus promoting zero carbon tourism in India.  The funds raised will be used for expansion to new locations. Previously, BLive has raised a strategic investment of INR 4 crore from DNA Networks in September 2019 and a seed capital fund of Rs 1 crore led by Shrinivas V Dempo, Chairman of Goa’s leading business house Dempo Group, and Shivanand V Salgaocar, Chairman and Managing Director, Vimson Group. Founded in 2018 by Samarth Kholkar and Sandeep Mukherjee, BLive 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 an 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, "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.”

Ajay Pandey, Independent Director & Angel investor commented “E Vehicles are now an integral part of our eco system. There are many innovative solutions that are emerging on a regular basis 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.”

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. We are extremely bullish about participating in this industry that will redefine mobility in the near future.”

BLive experiences are available in Gujarat, Kerala, Karnataka, Rajasthan, Puducherry, Tamil Nadu, and Goa (North and South). B: Live is the official EV tourism partner for GTDC (Goa Tourism Development Corporation) . The company also has several marquee names as partners including Taj Hotels, Grand Hyatt and Airbnb. Since its inception, B: Live has completed 6000+ rides, saving more than 600 tonnes of carbon generated by tourist vehicles.

About Mumbai Angels Network:  Started in 2006, Mumbai Angels Network (MA Network) is India’s premier platform focused on new venture investing. The network is today 450+ members strong, across 9 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa, Pune, Jaipur and Chennai). It has a 135+ strong portfolio with 30+ exits and has invested 150+ crores.   About BLive 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. Our 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.