TLDR:
- Lyskraft, a fashion start-up, has raised $26 million in seed funding led by Peak XV Partners.
- The funding will help create an online platform for high-end brands, starting with women’s fashion products.
Lyskraft, a fashion start-up, has secured $26 million in seed funding, with investors including Peak XV Partners, Prosus, Sofina, and partners of DST Global. The funding will support the development of an online platform that integrates various channels to serve as a marketplace for high-end brands, starting with women’s fashion products and expanding into other lifestyle categories. Mukesh Bansal, founder of Myntra, will be a shareholder and strategic advisor, while Mohit Gupta, a former Zomato executive, will be the chief executive of the start-up. Gupta believes that the premium fashion category in India will be a significant market segment in the next 5 to 10 years, especially focusing on women’s fashion as a challenging category that requires an omnichannel approach. The company has already onboarded 15 premium brands and aims to expand its market value from a few billion dollars to $12–15 billion in the next six to seven years.
