Sunil Kant Munjal led Hero Enterprise invests USD 10 million in Corvi LED Light, a pioneering and technology-reshaping consumer lighting firm based in Mumbai that already has over ten Red Dot Design Award winning products under its belt, making 25% of their share capital."I am very excited not just because of Corvi's strong credentials in sophisticated and innovative product design, but...
Sunil Kant Munjal led Hero Enterprise invests USD 10 million in Corvi LED Light, a pioneering and technology-reshaping consumer lighting firm based in Mumbai that already has over ten Red Dot Design Award winning products under its belt, making 25% of their share capital.
"I am very excited not just because of Corvi's strong credentials in sophisticated and innovative product design, but also because here's a great chance to democratize high-end technology. A combination of solid state technology, minimalist design and quality manufacturing allows a higher light output of light against per watt of power consumed; if we can scale appropriately, imagine the impact not just in India, but across the world," said Munjal said.
The investment in Corvi strengthens several other forays made by Hero Enterprise since 2017 in the areas of e-commerce, digital learning, healthcare, women's empowerment and kid education.
Vimal Soni, Founder and CEO of Corvi LED Light, stated that the company extensively uses 3D printing technology and digital simulations to develop new products. "This investment should help boost Corvi's intelligent product range and build presence in new markets," he said.
AZB & Partners with a team led by Partners Anil Kasturi and Nandita Govind along with Senior Associate Siddharth Khanna.