- Infusion of capital to fuel company’s expansion into new markets, diversification of its product range, and enhancement of its technological capabilities.
Corvi LED, a consumer lighting company based in Mumbai, secured a $8 million in a Series B funding round led by Enam Investments, marking its first major funding in seven years.
The infusion of capital will fuel the company’s expansion into new markets, diversification of its product range, and enhancement of its technological capabilities.
Founded in 2012 by Vimal Soni, Corvi LED has made significant strides in the lighting industry, offering a wide range of innovative LED products across various categories.
Innovation efforts
The company takes pride in its top efficiency ratings and advanced features, such as eliminating metal bodies, drivers, and heat sinks, backed by over 100 patents and registrations.
With a strong presence in both B2C and B2B segments, Corvi LED aims to introduce new LED products that cater to evolving consumer demands. Having exported to 24 countries and garnered investments from notable entities like Hero Enterprise in the past, the company is poised for further growth and success.
Despite a slight decline in operating revenue for the fiscal year ending in March 2023, Corvi LED remains optimistic about its future prospects, especially with the recent financial boost from Enam Investments.
The company’s strategic funding round mirrors a trend in the industry, where established brands are attracting fresh investments to fuel their expansion and innovation efforts.