Enam Investments has led a USD 8 million growth capital investment round in Corvi LED, a world-class lighting products design company. This significant 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.
Founded in 2012 with a relentless focus on design, efficiency and sustainability, Corvi has consistently disrupted the LED industry with ground-breaking innovations that have redefined the category and earned global acclaim.
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 company is set to introduce a compelling range of new LED products that meet the modern demand for ergonomic design and aesthetics.
Commenting on the development, Vimal Soni, Founder of Corvi LED, stated, "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. We plan to transform the global lighting market and build a distinct brand with our innovative product range and technology."
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."
Cipher-Plexus Capital Advisors was the advisor to the transaction.
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