Kores India invests in LED lighting startup Arraystorm

PUNE: Kores India, which is into diverse business sectors such as office stationary and pharmaceuticals, has made a strategic investment into Bangalore-based startup Arraystorm Lighting, which innovates in the LED lighting space for commercial segments.

Kores has the majority equity in the startup and 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 of Kores India. He said this is the first time that Kores is partnering with a startup.

Apoorva Ruparel, founder and CEO of Arraystorm, said the company was looking at the commercial lighting space with a focus on branded stores, offices and hotels.

"We are developing a range of technology products focused on niche areas such as lighting in jewellery stores and in the hotel segment." Ruparel launched Arraystorm in April this year, and so far has 10 corporate clients.