Fashion Startup Lyskraft: $26M Funding for Premium Marketplace

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

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

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

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

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

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

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

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

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