AMJ Ventures invests USD 2 mn in Alia Bhatt-backed fashion-tech start-up StyleCracker

New Delhi, Nov 14 () Alia Bhatt-backed StyleCracker on Thursday said US-based investor AMJ Ventures has invested USD 2 million (about Rs 14 crore) into the company.

The fashion-tech start-up will use the funds towards building out further capabilities in machine learning and in strengthening its moat on the personalisation front, StyleCracker co-founder and Managing Director Dhimaan Shah said in a statement.

"The funds will also be used to build a strong pan-India presence...StyleCracker has grown rapidly since inception at a CAGR of over 150 per cent and is on track to grow the business over 250 per cent this financial year, after its funding from AMJ Ventures," he added.

The rapid growth is complemented by healthy economics with the company turning profitable at a unit economic level, he said. Advertisement

AMJ has previously invested in Indian start-ups like Avail Finance and Propelld.




* * IAN Fund invests Rs 15 cr in Zypp IAN Fund on Thursday said it has invested Rs 15 crore in e-scooter micro-mobility start-up Zypp. Advertisement

IAN Fund led the pre series-A round with prominent IAN members also participating, a statement said.

Based out of Gurugram, Zypp (earlier Mobycy) has a fleet of IoT-powered electric scooters that commuters can use to fulfill their daily micro-mobility needs within a range of 5 kilometers. Incorporated in August 2017, the company has over 50 employees.

"We will leverage the capital to scale by strengthening the fleet with 5,000 e-scooters within the next few months. We are also looking to expand our geographical footprint across NCR along with 5 other Indian cities, and then to South East Asia and Europe in the coming years," Zypp co-founder Rashi Agarwal said. Advertisement

Agarwal added that the company plans to have 20,000 scooters on the road by end of 2020.




* * raises Rs 3.5 crore funding led by, Rainforest Ventures and others, a direct-to-customer men's health and wellness brand, on Thursday said it has raised Rs 3.5 crore as a part of its series B round of funding led by, Rainforest Ventures and angel investors. Advertisement

The company had raised Rs 2.54 crore in series A in August this year.

" will utilise the capital raised to establish its strong footprint in the highly fragmented but massive men's health and wellness space, with a focus on high-quality products, science, and sensitivity," a statement said. SR RVK

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