Corvi LED Secures $8 Million Funding from Enam Investments

New Delhi, Jul 17 (PTI) Lighting product design firm Corvi LED has raised USD 8 million (about Rs 67 crore) in funding led by Enam Investments, the company said on Wednesday.

The capital infusion will allow Corvi LED to expand into new geographies with a more robust distribution network, diversify its product portfolio, and further enhance its technological capabilities, the company said in a statement.

"Enam Investments has led a USD 8 million growth capital investment round in Corvi LED," the statement said.

Founded in 2012, Corvi holds over 100 patents and registrations and has exported to 24 countries across Europe, the Middle East, Africa and South-East Asia.

"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," Corvi LED founder Vimal Soni said.

The funds will be mainly used to scale up operations and make substantial investments in marketing and distribution to strengthen the company's market presence in B2C and B2B segments, the statement said.