Mukesh Bansal is in advanced talks to raise capital from Peak XV Partners and Accel for a new fashion venture, while Krutrim SI Designs is also eyeing funding.
Mukesh Bansal in talks with Peak XV, Accel to raise $50m
Mukesh Bansal, the founder of Indian fashion retailer Myntra and fitness platform Cult.fit, is in advanced talks to raise funding from Peak XV Partners (formerly Sequoia India) and Accel for a fashion venture, MoneyControl reported.
He is said to be launching a premium fashion brand for GenZ along with Zomato co-founder Mohit Gupta.
Bansal is looking to raise a Series A funding of $40-50 million at a post-money valuation of $100 million, the report added.
Krutrim SI Designs looking to raise at least $50m
Krutrim SI Designs, founded by Indian taxi-hailing platform Ola’s founder Bhavish Aggarwal, is looking to raise funding, reported Entrackr.
The company is said to be raising at least $50 million, which may even go up to $100 million, the report said citing sources.
India-based VC firm Matrix has committed to investing $15 million, while Ola’s existing and new investors are also likely to participate, it added.
Launched a few months ago, Krutrim SI Designs will focus on manufacturing silicon chips, cloud infrastructure, and AI models.