Clothing brand Newme has raked in $18 million in Series A funding, while ChrysCapital-backed eyewear retailer Lenskart has raised close to $20 million from its co-founders.
Newme raises $18m in Series A round
India’s Newme, which sells its own brand of clothing, has raked in $18 million in a Series A funding round led by Accel with participation from existing backers such as Fireside Ventures and AUM Ventures.
Newme, which has a presence across offline and online channels, last amassed $5.4 million in January 2024. Prior to that, it raised capital from Aum Ventures, 2am VC, and All In Capital in November 2022.
Newme plans to use the corpus raised to strengthen its supply-chain technology and expand its offline and online presence.
Founded in 2022 by Sumit Jasoria, the brand caters to Gen Z – those born between mid-to-late 1990s and the early 2010s. It claims to have serviced over 3.5 lakh customers across its website and stores till date.
Lenskart raises close to $20m: Report
ChrysCapital-backed Indian eyewear retailer Lenskart has raised close to $20 million from its co-founders, per a report by Entrackr. This marks the second investment in the Gurugram-headquartered company by its co-founders — Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi — in the past seven months.
Last month, the company made headlines when it amassed $200 million from Singapore state investment firm Temasek and Fidelity Management and Research Company in a secondary deal at a valuation of over $5 billion.
Established in 2008, Lenskart joined the unicorn club in 2019. It also counts SoftBank, Premji Invest, Alpha Wave Global, Temasek, and KKR among its investors. The company claims to have a customer base of 20 million.
Besides expanding in India, Lenskart is also looking to expand globally across Asia and the Middle East.