BLive is looking to double its revenue to about Rs 100 crore in FY25 and is aiming for profitability in 12-month timeframe
BLive, a multi-brand electric vehicle platform, is seeking to raise USD 5 million in the next six months, according to its CEO and co-founder, Samarth Kholkar. Kholkar stated that investor interest in BLive is strong, and the company hopes to make a funding-related announcement within the next six months. The funds raised will primarily be used to invest in technology and people.
"We have raised under USD 2 million over a period of time, and we are looking to raise USD 5 million now because our primary interest is to invest in technology and people," he said. "Technology, because we are a platform at the end of the day, which has a lot of data coming in, now it is time to consolidate, extrapolate, and use the latest technology, including blockchain, to ensure we can scale up our business from a typical 10X to a 100X."
BLive aims to double its revenue to about Rs 100 crore in FY25 and is aiming for profitability within a 12-month timeframe. Kholkar highlighted the importance of a strong tech platform to achieve this milestone.
BLive's revenue growth will be driven by the use of technology, and Kholkar noted that "we have the right levers for business already in place, which is essentially the market and the product."
On fundraising plans, Kholkar said the interest is coming from green funds and climate tech funds not only in India but also in the US and European markets. Additionally, players in the automotive space see BLive as a democratisation of the automobile space, not just as an India case study but something that can be easily adopted internationally.
BLive is India’s first multi-brand EV platform, offering a wide range of EV products and services on a digital platform. With multiple brands listed on its platform, BLive provides an omnichannel experience to its buyers through an online e-commerce store and premium experience stores pan India.