BLive Aims to Secure $5 Million in the Next 6 Months
New Delhi: Investor interest in BLive is “strong,” according to CEO and co-founder Samarth Kholkar, who also stated that the company hopes to make a funding-related announcement within the next six months. BLive is a multi-brand electric vehicle platform, and it is looking to raise USD 5 million in the next six months.
“We have raised under USD 2 million over some time, and we are looking to raise USD 5 million now because our primary interest is to invest in technology and people.
“Technology, because we are a platform at the end of the day, which has a lot of data coming in, now it is time to consolidate, extrapolate and use the latest technology, including blockchain to ensure we can scale up our business from a typical 10X to a 100X,”
– said, Samarth Kholkar, CEO and co-founder og BLive
“So to boost that, we need a strong tech platform, which will help us reach that scale…to that milestone,”
– Kholkar told PTI
BLive’s revenue growth will be driven by the use of technology, he said, and he pointed out that “we have the right levers for business already in place, which are essentially the market and the product.”
Regarding plans for funding, Kholkar stated that interest is being shown by green funds and climate tech funds with a presence in the US, Europe, and India.
“At the same time, people who are in the automotive space, also find that this is a beautiful democratisation of automobile space that we are creating, and they are also looking at it not just as an India case study but also something that can be easily adopted in the international markets,”
– said, Samarth Kholkar, CEO and co-founder og BLive
With many brands listed on its platform, BLive is India’s first multi-brand EV platform, providing a broad range of EV products and services on a digital platform. BLive gives its customers an omnichannel experience, comprising premium experience stores throughout India and an online e-commerce store.