http://www.nextbigwhat.com/wp-content/themes/nextbigwhat-takeoff/include/rslide/responsiveslides.min.js

Valyoo Technologies which runs sites like LensKart, raises $10 million from Unilazer Ventures & IDG

Lenskart

Just when we thought there’s no more VC money for ecommerce companies, this comes up.

Valyoo Technologies, the e-commerce company which runs LensKart, BagsKart, WatchKart and JewelKart, has raised nearly $10 million from UTV founder Ronnie Screwvala’s Unilazer Ventures Limited and IDG Ventures India, according to a new report.

It was Screwvala’s first bet in the Indian ecommerce space, reports The Economic Times. The Delhi based startup had raised $4 million from IDG Ventures India in 2011. The $100 million Unilazer Ventures is a sector agnostic fund which has a focus on early to late stage startups.

The funding comes at a time when “me too” e commerce companies that had mushroomed in the country over the last 3 years are struggling to raise further rounds to stay in business. This doesn’t come as a surprise though. As we had pointed out in an interview with Manoj Kumar, the CEO & Co founder of eDabba, there is no funding crunch for differentiated ecommerce companies.

LensKart, the company’s online site which sells eye-wear, like lenses and eyeglasses and contributes to more than 50 % of its total revenue, has some interesting sales strategy going on. For instance, it gives away the frames for eyeglasses for free and charges only for the lenses.

Pin It on Pinterest

Shares