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BLive raises $1 million in a follow-on funding as part of its pre-Series A round

Goa: BLive, an electric vehicle-based experiences platform, has raised $1 million (around Rs 7.26 crore) in follow-on funding as part of its pre-Series A round.

This infusion – comprising both equity and debt components – was led by LetsVenture, Mumbai Angels, JITO, and Credit Wise Capital, the Goa-based startup said in a statement.

In April last year, the company raised an undisclosed sum from Mumbai Angels as part of this pre-Series A round. In September 2019, it raised nearly $1 million through a stake sale to entertainment and event platform DNA Networks.

BLive, operated by Arcis Tours Pvt Ltd, was set up in 2018 by Samarth Kholkar and Sandeep Mukherjee. The company says it offers guided tours on electric bikes with an aim to promote sustainable tourism in the country. It is the official EV partner for Goa Tourism and has partnered with hospitality brands such as Club Mahindra and Taj Hotels.

Kholkar and Mukherjee said the company is looking at growing its EV tours segment to over 30 locations and adding more two-wheeler EV brands and ownership models to its EV Store, through both online and offline channels.


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