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Gurugram-based eyewear platform EyeMyEye raises $2.5M in a pre-Series A round: Report

IndianStartupNews

IndianStartupNews · 1y ago

Gurugram-based eyewear platform EyeMyEye raises $2.5M in a pre-Series A round: Report

Gurugram-based eyewear platform EyeMyEye has raised INR 20.8 crore (approximately $2.5 million) in a pre-Series A funding round. The funds will be used to expand the company's presence in the eyewear market and strengthen its operations. The round saw participation from investors including RBA Finance & Investments and Ashish Ramesh Kacholia. Following the funding, EyeMyEye's valuation has reached around INR 162 crore ($20 million). The startup has experienced significant growth since its inception and faces competition from established players like Lenskart and ClearDekho. EyeMyEye has raised a total of INR 90 crore ($11 million) to date.

Related News

Exclusive: EyeMyEye raises $2.5 Mn in a new tranche

Entrackr

Entrackr · 1y ago

Exclusive: EyeMyEye raises $2.5 Mn in a new tranche

Full-stack eyewear platform EyeMyEye has raised Rs 20.8 crore (approximately $2.5 million) in a new tranche as part of its pre-series A round. The board at EyeMyEye has passed a special resolution to issue 14,44,847 pre-Series A CCPS at an issue price of Rs 143.96 each to raise Rs 20.8 crore, its regulatory filing sourced from RoC shows. RBA Finance & Investments and Ashish Ramesh Kacholia pumped in Rs 10 crore each while Sachin Shah participated with Rs 80 lakh. Following the fresh proceeds, RBA Finance and Ashish Kancholia will hold 6.22% each of the company. EyeMyEye will use these proceeds to operate the business, achieving the pre-defined milestones, and in the manner envisaged in the shareholder’s agreement, the filing added. According to the startup data intelligence platform TheKredible, the company has been valued at around Rs 162 crore or $20 million (post-money). Founded in 2021 by Ganesh Iyer, EyeMyEye offers a range of customized eyeglasses, sunglasses, and other eyewear-related products to consumers through its online and offline channels. EyeMyEye has raised around Rs 90 crore ($11 million) to date including a $5 million round led by LC Nueva AIF in August 2022. Entrackr had exclusively reported the development. EyeMyEye registered 34% year-on-year growth to Rs 32.45 crore during FY23. Moreover, the company’s losses remained steady at Rs 19.36 crore during the same period. It competes with the likes of Lenskart, ClearDekho, Cool Winks and Lens2Home, among others.

B2B platform for logistics, industrial sector 13SQFT.com raises $1M led by Gurugram's IPV

IndianStartupNews

IndianStartupNews · 2y ago

B2B platform for logistics, industrial sector 13SQFT.com raises $1M led by Gurugram's IPV

B2B platform for the warehousing, logistics, and industrial sector, 13SQFT.com, has raised $1 million in a pre-Series A funding round led by Inflection Point Ventures, a Gurugram-based angel investment firm.

Airblack raises new money led by Dell Foundation

Entrackr

Entrackr · 1y ago

Airblack raises new money led by Dell Foundation

Online makeup and beauty learning platform Airblack has secured $4 million in a pre-Series B funding round led by the Michael & Susan Dell Foundation. The Gurugram-based company plans to use the funds for working capital requirements, general corporate purposes, and business expansion. This funding round comes after a gap of 17 months for Airblack, which has previously raised a total of $11 million.

Mumbai-based Enrico Eyewear raises Rs 2.1Cr led by 100X.VC

IndianStartupNews

IndianStartupNews · 1y ago

Mumbai-based Enrico Eyewear raises Rs 2.1Cr led by 100X.VC

Mumbai-based Enrico Eyewear has secured Rs 2.1 crore in a pre-seed funding round led by 100X.VC. The startup plans to utilize the funds for market expansion and educating customers about the importance of quality eyewear. Enrico Eyewear offers innovative eyewear products with features like blue light blockers, UV protectors, and scratch protectors. The global eyewear market, valued at approximately $115 billion, is poised for significant growth due to increasing awareness of UV dangers and a rising demand for fashionable eyewear.

Quickwork, a no-code automation and API integration platform, raises $2.5M led by DMI Alternative Investment Fund

Startup News FYI

Startup News FYI · 1y ago

Quickwork, a no-code automation and API integration platform, raises $2.5M led by DMI Alternative Investment Fund

Quickwork, a Mumbai-based startup specializing in no-code automation and API integration, has raised $2.5 million in a pre-series A2 funding round led by DMI Alternative Investment Fund – The Sparkle Fund and NIS Ventures Group. Quickwork's platform enables businesses to automate workflows and integrate applications without extensive technical knowledge. The funding will support innovation, platform enhancement, research and development, user experience improvement, hyper-scaling cloud DevOps infrastructure, market expansion, strategic partnerships, and meeting the growing demand for automation solutions. The company serves customers in 145 countries, including Freshworks, Cipla, and Axis Bank.

GenAI stratup Devnagri raises funding in a pre-Series A round

Inshorts · 1y ago

GenAI stratup Devnagri raises funding in a pre-Series A round

Devnagri, a Gen-AI startup that personalizes business communication for non-English speakers, has raised an undisclosed amount in a pre-Series A funding round led by Inflection Point Ventures, a Gurugram-based angel investment firm. The startup plans to use the raised capital for marketing, sales, technology scaling, R&D, infrastructure and administrative expenses.

MENA Digest: Aanaab, Nowlun, Enakl, Playgama lead funding activity this week

VCCircle

VCCircle · 8m ago

MENA Digest: Aanaab, Nowlun, Enakl, Playgama lead funding activity this week

Saudi Arabian edtech platform Aanaab raised $7 million in Series A funding to expand its operations and offer more training programs. Egyptian digital freight forwarding platform Nowlun secured $1.7 million in seed funding for expansion. Moroccan mobility startup Enakl received $1.4 million in pre-Seed funding to support its growth. UAE-based gametech startup Playgama raised $3 million to scale its business and introduce advanced analytics and fintech solutions. Funding activity in the MENA region has been active, with eyewear retailer Eyewa recently raising $100 million in a Series C round.

Travel tech startup Bookingjini raises funding led by Gurugram's IPV

IndianStartupNews

IndianStartupNews · 1y ago

Travel tech startup Bookingjini raises funding led by Gurugram's IPV

Gurugram-based startup Bookingjini has raised an undisclosed amount in a Pre-Series A funding round led by Inflection Point Ventures. The funds will be utilized for product development and customer acquisition strategies. Bookingjini offers a range of services for hoteliers and guests, including a smart booking engine, channel manager, guest relationship management, analytics, and mobile accessibility. The startup aims to empower hotels with technology that simplifies management and transforms the guest experience.

Gurugram's Solethreads raises $3.7M in Series A round led by new and existing backers

IndianStartupNews

IndianStartupNews · 2y ago

Gurugram's Solethreads raises $3.7M in Series A round led by new and existing backers

Gurugram-based Solethreads, a rapidly growing casual footwear brand has raised $3.7 million in a Series A funding round led by Fireside Ventures and existing investors DSG Consumer Partners and Saama Capital.

VC-backed B2B platform Finhaat raises fresh funds

VCCircle

VCCircle · 7m ago

VC-backed B2B platform Finhaat raises fresh funds

Finhaat, a B2B digital platform focused on distributing financial products across rural India, has secured a pre-Series A funding round, increasing its valuation. Operated by Mumbai-based Finhaat Technologies Pvt Ltd, the platform raised Rs 26 crore (approximately $3 million). Co-founded by Vinod Singh, Sandeep Katiyar, and Navneet Shrivastava, Finhaat continues to expand its operations, leveraging its recent financial boost.

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