BLive Raises $1 Million Investment in Pre-Series A Round From Four Investors

A Goa-based travel tech platform that offers electric bikes for immersive experiential tours, BLive has announced that it has raised an investment of USD 1 million as part of the follow-on capital of the Pre-Series A round.

The EV tourism initiative BLive has informed that the funding was a combination of debt and equity was led by LetsVenture, Mumbai Angels, JITO, and Credit Wise Capital. 

In the company release, the Co-founders of BLive, Samarth Kholkar and Sandeep Mukherjee stated, “This year, we are looking at growing the EV tours to over 30 locations and adding more two-wheeler EV brands and ownership models to the EV Store through both the online and offline channels.” 

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The e-Bike tours provide an intimate local experience and it’s taken a notch higher by combining it with the simple joy of cycling. The effortless riding on e-Bikes enhances the experience and makes it extraordinary. The BLive services are presently operational in 9 states of India including 15 cities across those states. 

Both Samarth and Sandeep believe that it is in discovering the hidden gems tucked away in quaint alleys, meeting the locals, and reconnecting with the soul of a place that we truly come alive. 

Recounting the investment, the founder of LetsVenture, Shanti Mohan commented, “With India’s potential to be the next EV market leader of the world, we want to ensure that we support startups like BLive, who provides a completely unique way to users of experiencing and owning electric two-wheeler.”

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“Boost in domestic travel and growth in the EV category presents BLive a great opportunity to grow and expand to bigger markets,” Mohan added. 

BLive is the official EV tourism partner of Goa Tourism. Founded in 2018, BLive launched India’s first online EV marketplace offering top brands of E-Cycles and E- Scooters in 2020. 

EV startups in the country are growing day by day as the commuters are shifting towards sustainable options of mobility. Recently, Delhi-based electric last-mile logistic solutions provider, Euler Motors has announced that it has closed its Series A funding round at USD 9.5 million, with additional investments of USD 2.6 million. 

Also, last month in February, Electric two-wheeler (E2W) manufacturer, Ather Energy had announced that the company is going to make an investment worth Rs 635 Crores over the next five years to scale up the production in its EV manufacturing facility in Hosur, Tamil Nadu.