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Mohit Gupta, Mukesh Bansal’s omnichannel fashion startup Lyskraft raises $26 million in seed funding

Economic TimesEconomic Times · 1y ago
Mohit Gupta, Mukesh Bansal’s omnichannel fashion startup Lyskraft raises $26 million in seed funding
Medial

Former Zomato executive Mohit Gupta and Myntra founder Mukesh Bansal have raised $26 million in seed funding for their omnichannel fashion startup Lyskraft. The investment will be used to build an online marketplace for premium brands, starting with women's fashion and expanding into other lifestyle categories. The funding round was led by Peak XV Partners, with participation from investors such as Prosus, Sofina, and DST Global. Gupta will serve as the CEO of Lyskraft, while Bansal will be a strategic advisor and shareholder. The company aims to capture a significant portion of India's premium fashion market, which is estimated to be worth billions of dollars.

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Former PayU’s exec startup Zinc raises $25.5 Mn in seed funding

EntrackrEntrackr · 7m ago
Former PayU’s exec startup Zinc raises $25.5 Mn in seed funding
Medial

Zinc, an edu-wealth startup founded by former PayU Finance India CEO Prashanth Ranganathan, has raised $25.5 million in its seed round, led by Nexus Venture Partners with participation from Quona Capital, EDBI, Global Ventures, and Credit Saison. According to the company, the funds will be used to drive product innovation and expand offerings, focusing on global investment tools, AI-powered university counseling, and cross-border payment solutions to help families secure their children’s futures. Zinc aims to address the rising costs of overseas education by building a financial foundation tailored specifically for this purpose. Its proprietary AI-powered edu-counselor platform, Ada, provides comprehensive support and guidance to young Indian aspirants. The company offers global investment tools that enable parents to expand their savings into international markets, helping them build financial plans for their children’s education while mitigating currency fluctuation risks. Zinc has also secured RIA (Registered Investment Advisor) license approval from SEBI and in-principle approval for the PSP (Payment Service Provider) license. The company has applied for a brokerage license from the International Financial Services Centres Authority (IFSCA) in GIFT City. Ranganathan, previously the founder of Paysense, which was acquired by PayU in 2020, joins the ranks of several second or third time startup founders who raised more than $20 million in their seed rounds in 2024. According to startup data intelligence platform TheKredible, notable recent seed rounds include blockchain startup Avail ($27 million), Lyskraft, Mukesh Bansal’s new venture ($26 million), and generative AI startups EMA and Nesya, which raised $25 million and $20 million, respectively. Wealthtech startup Centricity and elder care startup Primus Senior Living also raised $20 million each, marking strong seed-stage funding activity.

Nected raises $1.5 Mn led by Binny Bansal’s Three State Ventures

EntrackrEntrackr · 11m ago
Nected raises $1.5 Mn led by Binny Bansal’s Three State Ventures
Medial

Nected, a next-generation low-code platform, has raised $1.5 million in its seed round led by Binny Bansal’s Three State Ventures. The round saw participation from Endurance Capital, Relentless VC, Climber Capital, Lykke Capital, and Forward Slash Capital. Additionally, over 15 founders and CXOs participated in the round, including Nitin Gupta from PayU, Pallav Pandey from Uolo and Knowlarity, Archit Gupta from Clear, Tonmoy Shingal from Mettl, Ravi Bhushan from BrightCHAMPS, Akshay Saxena from Avanti Fellows, Puneet Kumar from Supr Daily (acquired by Swiggy), and Prashant Kumar from Unbxd. The proceeds will be used to enhance product usability, simplify integration, and scale operations to meet the growing demands of Nected’s user base, particularly on the international front. Founded by Prabhat Gupta and Mukul Bhati, Nected helps businesses overcome inefficiencies and inherent delays in traditional software development. It serves as a toolkit that provides pre-built tech building blocks such as rule engines, workflow automation, and A/B testing tools that saves companies time and money and keeps them from requiring additional technical expertise. The platform is currently used by over 20 customers spread across 5 countries. Prior to this, Prabhat Gupta co-founded TravelTriangle, an online travel marketplace while Mukul Bhati co-founded FastFox, a real-estate company, in 2015 and sold it to Elara Group (the parent company of Housing.com) in 2019.

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