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[Funding News] Corvi LED Secures $8 Mn in Series B Funding Round from Enam Investments

By Team VS
New Update
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Vimal Soni, Corvi LED, founder

Corvi LED, a consumer lighting company, has secured $8 million in a growth capital round that was spearheaded by Enam Investments. The Mumbai-based organisation has received new funding following a seven-year hiatus.

This infusion will enable Corvi LED to diversify its product portfolio, refine its technological capabilities, and expand into new geographies.

Corvi LED is also planning to expand its market presence in both B2C and B2B segments and will introduce a variety of new LED products that are in line with contemporary consumer demands.

Read also - Auxilo Finserve Secures $30 Mn Funding from LeapFrog Investments

The company states that it has exported to 24 countries in Europe, the Middle East, Africa, and South East Asia and holds more than 100 patents and registrations. The year 2017 saw Hero Enterprise invest $10 million in a substantial stake in Corvi LED Light.

Corvi provides an extensive selection of over 100 products that are divided into seven distinct categories, including bulbs, tubes, flat, surface, and more. The company has established global benchmarks with top efficiency ratings and features, including the elimination of metal bodies, actuators, and heat sinks, according to the company.

About Corvi LED

Founded in 2012 by Vimal Soni, Corvi LED light was formed with the mission to pursue efficiency. We brought the first core disruptions in the LED world.

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ParkMate has Secured $1.2 Million in a New Funding

ParkMate is the ultimate hassle-free parking solution. Our app-based platform offers a seamless experience by allowing you to 'Order a Valet' at any location.

By Aryan Sharma
New Update
ParkMate has Secured $1.2 Million in a New Funding

Cactus Partners is an early growth-stage startup fund, is leading a fresh round of $1.2 million secured by ParkMate, a supplier of parking solutions. The financing also included participation from current backers including the Marwah Group Family Office and Venture Catalysts.

Funding Utilisation

ParkMate claims that the money will be utilized to accelerate its growth trajectory, make investments in its workforce to attract clients, simplify its business processes, and keep coming up with new ideas.

Read Also - Univest To Secured $16 Million in Funding 

ParkMate, which was founded by Dhananjaya Bharadwaj, provides intelligent parking solutions to government parking contractors as well as corporate hotels, office buildings, and retail centers.

Car owners who use the company's unique DaSH (Drop & Shop) service may park their vehicles at shopping centers, arcades, and business buildings in less than two minutes. It is recognized by the Telangana, UP, Fun Republic, Phoenix Mills, and DLF governments. Another big market for ParkMate is smart cities.

Among its immediate rivals are Park+, Get My Parking, Park Smart, and Parky.

The biggest participant in this market is Park+. The business launched Drive+ in June, establishing itself as a possible rival to DriveU, Drivers4Me, Driverzz, PickMyCar, Namma Driver, and Cars24 in the on-demand driver services market.

Since January 2021, this is Cactus Partners' ninth investment. The company has made investments in businesses including Rubix Data Science, AMPM Fashions, Auric, Indigrid Technology, Lohum Cleantech, Kapture CX, and Vitraya Technologies. 

About ParkMate

ParkMate, the ultimate hassle-free parking solution. Our app-based platform offers a seamless experience by allowing you to 'Order a Valet' at any location. Simply arrive at your destination, and ParkMate takes care of the rest. Our professional valets pick up and drop off your vehicle at the nearest parking facility, while you track its location in real time through the user-friendly app.

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Startup Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Startup Funding News: Stay updated with the latest news and trends in startup funding and investment.