BLive, a diversified electric vehicle platform, is on the path to securing funding of $5 million in the next six months, as stated by Samarth Kholkar, its CEO and co-founder, this Friday. Kholkar expressed confidence in the strong investor interest towards BLive and anticipates a funding announcement within the next half-year.
The company, having already garnered under $2 million over time, is now focused on further investments in technology and workforce. Kholkar explained that their goal is to leverage technology, particularly as they handle a significant amount of data. They are looking at advanced technologies, including blockchain, to expand their business exponentially.
BLive aims to double its revenue to approximately 100 crore INR in the fiscal year 2025, targeting profitability within a year. According to Kholkar, technology enhancement is crucial for reaching these milestones. This assertion was made at the Digital Acceleration & Transformation Expo (DATE).
Kholkar underscored that BLive’s revenue surge will be propelled by technological advancements, benefiting from the already established market and product strengths.
Regarding the fundraising efforts, Kholkar mentioned receiving interest from green and climate tech funds, not just in India but also from the US and European markets. Automotive sector investors are also showing interest, seeing BLive’s approach as a democratization of the automotive space. This interest is not limited to India but is viewed as a model that can be replicated in international markets.
BLive stands as India’s first multi-brand EV platform, offering a vast array of electric vehicle products and services through digital means. It provides an omnichannel experience through its online e-commerce store and premium experience stores across India.
