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Startup Funding Alert: 16th September 2019

Popular eyewear startup Lenskart raises Rs 392 crore from Mumbai-based Kedaara Capital; Roots Ventures invest in health food startup Kaarya Naturals.

Kedaara Capital invests Rs 392 crore in Lenskart

The Delhi based eyewear solution startup Lenskart raised an investment of Rs 392 crore ($55 million) from Kedaara Capital, a private equity firm. Lenskart plans to utilize its funds to expand to international markets such as Singapore and others. As per reports by media, the startup is expected to be valued at around Rs 8,200 crore ($1.15 billion) after the current financing round.

According to the filings, Lenskart has issued 61.43 lakh Series F compulsorily convertible cumulative preference shares, at a premium of Rs 636.06 per share, to Kedaara’s two entities which are Kedaara Capital Fund-II and Mauritius-registered Kedaara Norfolk Holdings Limited.

Lenskart, founded by Peyush Bansal & Amit Chaudhary in 2008, sells its products through online or offline channels and has raised over Rs 850 crore of primary capital. The firm has more than 500 walk-in stores and aims to open 150 more stores by March 2020.

Roots Ventures invests in Mumbai-based startup Kaarya Naturals

Kaarya Naturals founder- Kajal Bhatia
Kaarya Naturals founder- Kajal Bhatia

The multi-stage & sector agnostic investing platform, Roots Ventures, announced its investment in Mumbai-based health food company, Kaarya Naturals which currently retails its range of protein and health bars under the brand eighty20. The startup, founded by Kajal Bhatia on November 2017, aims at using the freshly built capital for expanding its product range and reach to its customers through online & offline channels.

Roots Ventures, founded by Japan Vyas & Ravinder Vashisht, has completed its set of early-stage investments in eight startups including Smytten, Misht, Coccoon, Supa Food, REMITR, Captain Zack and Teamonk.

AttainU raises angel funding from Shailesh Rao, ex-Google India Head & others

Ed-tech startup AttainU has raised an angel funding for an undisclosed amount from Shailesh Rao ex-Google India Head, Anil Gelra – Founder, Nikhil Rungta ex-Intuit India Head, SnapMint and Manish Kumar – Founder, KredX and LetsVenture. The startup stated that it plans to use the raised capital to strengthen its faculty further, development of the courses, counseling teams and build a semi-automated platform to cater to the large inbound student demand AttainU is receiving.

Divyam Goel, CEO & Co-founder, AttainU, said, “We are receiving double-digit thousand student applications every month and are very excited about the scale of impact we will be able to deliver through our tech-first approach,”

The 2018 launched startup founded by Divyam Goel and Vaibhav Bajpai, offers full-time and online seven-month-long software engineering courses for its users. Additionally, the startup provides career counseling as a part of its student assessment process. They also connect graduates to industry partners for placement upon completion of the course. The firm aims to serve the students who have a college education but are either currently unemployed or are not satisfied with their jobs. More importantly, the students don’t need to have prior coding experience.

WaterBridge and Info Edge invest Rs 11 crore in ShoeKonnect

The Agra-based B2B footwear market ShoeKonnect has raised a funding of Rs 11 crore in a Pre-Series A round led by WaterBridge, an early-stage venture capital fund. Existing investor, Info Edge India,’s parent firm, also participated in the series by investing Rs 4 crore. WaterBridge Ventures infused the remaining amount of Rs 7 crore.

ShoeKonnect has raised total funding of Rs 24 crore since its launch including Rs 95 lakh from Indian Angel Network and Rs 16 crore from the Info Edge.

The firm was founded in 2014 by three Delhi University graduates Siddharth Vij, Chaitanya Rathi, and Siddharth Rastogi. The company recorded a revenue of Rs 36.8 lakh in FY’18, up from Rs 9.6 lakh in 2017. Owned and operated by Bizcrum Infotech Pvt Ltd, the startup claims to have over 15,000 manufacturers on its platform.