Fashion Startup Lyskraft: $26M Funding for Premium Marketplace

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Lyskraft, co-founded by Mohit Gupta and Mukesh Bansal, secures $26 Mn in seed funding led by Peak XV Partners.

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The investment aims to fuel Lyskraft's vision of creating an omnichannel marketplace for premium brands, starting with women’s fashion.

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Bansal and Gupta previously aimed for a $50 Mn Series A round with investors like Peak XV Partners and Accel.

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Lyskraft competes with other fashion startups such as Newme, Absolute Brands, and Snitch in the market.

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Bansal has also invested in Virgio, targeting Gen Z consumers, amid a surge in attention towards this demographic.

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Ecommerce giants like Flipkart and Myntra have introduced fashion platforms focusing on Gen Z users.

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India’s fashion and apparel industry, valued at $20 billion in 2022, is projected to reach $112 billion by 2030, driving growth opportunities.

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With significant funding and a growing market, Lyskraft and other fashion startups are poised for expansion and innovation.

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