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Omnichannel fashion startup Lyskraft raises USD 26 million
Former Zomato senior executive Mohit Gupta and Myntra and Cultfit co-founder Mukesh Bansal have announced they have raised $26 million in seed funding for their omnichannel fashion startup Lyskraft.
Peak XV Partners led the round, and Prosus, Sofina and DST Global partners also participated. Deep Kalra and Rajesh Magow of Makemytrip as well as Deepinder Goyal, the founder and CEO of Zomato, were among the angel investors who participated.
In addition to Mukesh as co-founder and strategic advisor, Mohit will serve as CEO and co-founder of Lyskraft, which will be headquartered in Gurugram.
The platform has been building 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 a market test initiative. With new designers featured every week, it features over 15 hand-picked women's fashion brands and designers at any one time.
Additionally, customers will be able to purchase these brands on the company's website.
The portal will initially cover women's fashion before moving on to other lifestyle areas.
“The future of retail is omnichannel, especially for categories like premium fashion where the touch, feel and experience of the actual product is key to consumer choice in the category. India's deep roots in fabrics, craftsmanship, creative heritage and manufacturing strength also uniquely positions us to play a major role on the global stage,” Gupta said.
Ramoji Group announces a strategic investment in FlexiCloud Internet
Ushodaya Enterprises Private Limited, the holding corporation of the Ramoji Group, has announced a strategic investment in FlexiCloud Internet Private Limited, a company specializing in managed cloud hosting solutions.
This initiative is part of the strategic expansion of Ushodaya Enterprises in Kerala.
The funding raised will enable FlexiCloud to improve its technology base, expand its research and development activities and deepen its market reach.
“Our platform is built to meet the essential needs of startups and SMEs by providing them with reliable, secure and scalable cloud solutions,” said Anooja Bashir, CEO of FlexiCloud.
Founded in 2017 by Vinod Chacko and Anooja Bashir, FlexiCloud Internet offers advanced managed cloud hosting solutions that focus on high performance, enhanced security and dedicated customer support.
The firm claims to serve more than 2,200 paying subscribers in 13 countries, from individual entrepreneurs to large multinational corporations.
Karthik Vidyasagar, Chief Investment Advisor, Ushodaya Enterprises said, “FlexiCloud's dedication to innovation and customer-centric solutions aligns perfectly with our values. We look forward to significant enhancements in our service capabilities through this partnership.”
AI Control One startup secures $350,000 USD
Control One AI, an AI robotics startup, has raised USD 350,000 in pre-funding from a group of investors in the US and India.
Investors include Kunal Shah (founder, CRED), Chaitanya R (co-founder, Wakefit), Amit Singh (ex-MD, Avendus Capital) and Silicon Valley executives from Tesla, Amazon, Walmart, eBay, Mercedes-Benz, and General Electric .
According to the official statement, the funds raised will be used to create a fully functional prototype and conduct successful pilot validations. In the near future, it will also present the first fully functional prototype to demonstrate AI in action.
Control One AI is building AI specifically tailored for slow-moving equipment used throughout the supply chain.
Pranav S, founder and CEO of Control One, said: “Our mission is to transform slow equipment around the world using our advanced AI, enhancing vehicles to reach, or even surpass, human intelligence levels. This technology will empower workers blue-collar workers around the world to achieve greater productivity, safety and satisfaction in their roles.”