Eyewear Retailer, ClearDekho secured INR 2 cr funding in pre-series A funding from Venture catalysts.
Several institutional investors such as Mumbai-based Samyakth Capital, a hybrid growth fund, and Pune-based Windrose Capital, which invests in digital-first early- to mid-stage startups, had participated in the round through the Venture Catalysts platform.
Other individual investors who also put in money include Gagan Gupta, Anand Naidu, and Dhianu Das, who are angel investors; Krishnan Akhileswaran, group chief financial officer at Apollo Hospitals; Gaurav Singhvi, founder of financial services firm Financial Supermarket; and Yogesh Chaudhary, director of Jaipur Rugs as per company website.
ClearDekho was started by Shivi Singh and Saurabh Dayal in 2016. Singh is an IBS Hyderabad alumnus and had worked with VisionSpring as India head of strategy and partnerships. Dayal, an MBA graduate from IIM Lucknow, has previously worked with wallet firm Paytm, data analytics company Prognosys, and HCL Infosystems.
The company has opened 25 stores across Delhi, Haryana, Uttar Pradesh, Uttarakhand and Rajasthan within six months of operations. It claims to be serving more than 50,000 customers.
“We have a unique, asset-light franchise business model. With the latest infusion of funds, we plan to replicate our success in other geographies. We plan to launch 100 stores before December 2018 and have 500 ClearDekho stores operational across India within the next 2 years,” Dayal said in the statement.
Venture Catalysts is leading early stage Investor in India and had in made highest investments in Indian startups in 2017, investing more than 180 crores in 33 Deals.
Dr. Apoorv Ranjan Sharma is leading Venture Catalysts with a vision to boost the startup ecosystem in Tier 2 & Tier 3 cities in India. His vision is to build the Startup ecosystem in 50 cities across India & Vcats already did it in more than 15 cities.
Vcats success of bringing the second round of funding is also best among Industry.