Corvi LED Secures $8 Million Funding to Boost Innovation and Market Presence

Lighting product design firm Corvi LED has secured USD 8 million in funding from Enam Investments. The funds will be used to expand geographic reach, diversify its product portfolio, and enhance technological capabilities. Founded in 2012, with over 100 patents, Corvi aims to set new standards in lighting technology.

Lighting product design firm Corvi LED has successfully raised USD 8 million (approximately Rs 67 crore) in a funding round led by Enam Investments, the company announced on Wednesday.

This capital influx will enable Corvi LED to expand into new geographic regions, diversify its product offerings, and significantly enhance its technological capabilities, according to the company's statement.

'Enam Investments has spearheaded this USD 8 million growth capital investment round in Corvi LED,' the statement revealed.

Since its founding in 2012, Corvi has secured over 100 patents and registrations, exporting its products to 24 countries including those in Europe, the Middle East, Africa, and South-East Asia.

'Innovation has largely stagnated in the industry following the shift to LED lights, but Corvi LED remains at the forefront due to our relentless focus on design, development (R&D), and efficiency,' said Vimal Soni, founder of Corvi LED.

'This fresh capital will further propel our efforts to pioneer advanced lighting technology, setting higher standards for sustainability and user experience,' Soni added.

The funds will primarily be used to scale up operations and make significant investments in marketing and distribution, thereby strengthening the company's market presence in both B2C and B2B segments, the statement added.

(With inputs from agencies.)