Mumbai-based lighting product design startup Corvi LED raises $8 million

Mumbai-based lighting product design startup Corvi LED Light has raised $8 million in a Series B funding round led by Enam Investments. 

With this round of funding, the startup will focus on expanding its operations and invest significantly in marketing and distribution. This will enhance Corvi's market presence in both the business-to-consumer (B2C) and business-to-business (B2B) segments.

The funding will also allow Corvi to diversify its product portfolio, refine its technological capabilities, and expand into new geographies. 

"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 infusion will further propel our efforts to pioneer new advancements in lighting technology, setting higher standards for sustainability and user experience," said Vimal Soni, Founder of Corvi LED.

Investor comments

Corvi LED's expansion aligns with the promising outlook for the LED market in India, driven by the booming real estate sector, urbanization, and the smart cities mission.

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 of their ability to create top-tier products that will redefine the lighting market in India."

Corvi LED's market presence

Founded in 2012, Corvi LED focuses on design, efficiency, and sustainability, offering over 100 products across seven categories, including bulbs, tubes, flat panels, and surface lights.

The startup has set global benchmarks with top efficiency ratings and innovative features such as eliminating metal bodies, drivers, and heat sinks.

Corvi claims that it holds over 100 patents and registrations and has exported to 24 countries in Europe, the Middle East, Africa, and South-East Asia.