Corvi LED Raises USD 8 Mn Led by Enam Investments to Expand Product Line and Market Reach The Mumbai-based brand aims to deploy the raised funds to expand into new markets, enhance its distribution network, and diversify its product portfolio.
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Lighting products design company Corvi LED has announced the raising of USD 8 million in a Series B round led by Enam Investments. Cipher-Plexus Capital Advisors served as the transaction's advisor.
Corvi LED's new funding will enable the company to expand into new markets, enhance its distribution network, and diversify its product portfolio. The capital will primarily be used to scale operations and invest in marketing and distribution, strengthening its presence in both B2C and B2B segments.
Vimal Soni, Founder of Corvi LED, said, "While innovation has stagnated across the industry after the shift to LED lights, Corvi LED has continued to lead with our relentless focus on design, development (R&D), and efficiency. This capital infusion will further propel our efforts to pioneer new advancements in lighting technology, setting higher standards for sustainability and user experience. We plan to transform the global lighting market and build a distinct brand with our innovative product range and technology."
Founded in 2012, Corvi focuses on design, efficiency, and sustainability. It offers a portfolio of more than 100 products spanning across 7 categories, like bulbs, tubes, flat surfaces, and others.
The company claims to have garnered global recognition for its innovative approach, holding over 100 patents and registrations.
The Mumbai-based brand exports to 24 countries across Europe, the Middle East, Africa, and Southeast Asia.
According to the company, it is set to introduce a compelling range of new LED products that meet the modern demand for ergonomic design and aesthetics.
"The LED market in India looks very promising due to the booming real estate, urbanisation, smart cities mission, and several technological advancements. At Corvi LED, we are well-positioned to capitalise on these opportunities and solidify our position as a leader in the industry," added Soni.
Vallabh Bhanshali, Chairman of Enam Group, said, "We are extremely excited to be working with an Indian company that is designing genuinely best-in-class lighting products. We see tremendous potential in Corvi's approach to this industry. The team has demonstrated exceptional innovation and leadership in the LED sector. We are confident in their ability to create top-tier products that will redefine the lighting market in India."
