Kores India has made a strategic investment into Bangalore-based start-up Arraystorm Lighting.
Kores India, which is into diverse business sectors such as office stationary and pharmaceuticals, has made a strategic investment into Bangalore-based start-up Arraystorm Lighting, which innovates in the LED lighting space for commercial segments. Kores will make an investment of Rs 18 crore in it over the next three years.
"We have been looking to foray into the green energy space and realised the potential of the LED lighting industry. We have invested into Arraystorm for their team and business model," said Vivek Bagri, Executive Director, Kores India.
Apoorva Ruparel, Founder and CEO, Arraystorm, said the company was looking at the commercial lighting space with a focus on branded stores, offices and hotels. Ruparel launched Arraystorm in April this year and so far has 10 corporate clients.