Indian fashion startup Lyskraft closed a $26 million seed round with participation from partners Peak XV Partners, Prosus, Sofina and DST Global. This follows from Crunchbase data, noted RB.RU.
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Lyskraft is headquartered in Gurgaon. The startup has been operating in stealth mode for the past few months and recently launched a premium pop-up store at Ambience Mall Gurugram and an online platform as an experiment.
“The future of retail is omnichannel, especially for categories like fashion retail, where touch and feel play a huge role in choosing a product,” the company said.
The store has more than 15 brands of women’s clothing. The assortment will be updated weekly and customers will also be able to purchase products from these brands on the website.
The funds raised will help the company support the women’s product launch as well as expand into other categories.
India’s fashion market was valued at $20 billion in 2022 and is projected to reach $112 billion by 2030, accounting for more than a quarter of the country’s $400 billion e-commerce market. Dollars.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
