Highlights:
- Lyskraft, a new women’s apparel venture founded by industry veterans Mukesh Bansal and Mohit Gupta, secures $26 million in seed funding.
- Peak XV Ventures leads the investment round, with participation from Prosus, Sofina, and Partners of DST Global, as well as notable industry figures Deep Kalra, Rajesh Magow, and Deepinder Goyal.
- The Gurugram-based omnichannel fashion platform offers a curated selection of over 15 women’s fashion brands and designers, with plans for online retail expansion.
- Co-founder and CEO Mohit Gupta emphasizes the importance of omnichannel retail in the future, leveraging India’s rich heritage in fabrics and crafts.
- Mohit Bhatnagar, Managing Director at Peak XV, expresses confidence in Lyskraft’s potential to become a category-defining fashion and lifestyle company, citing Gupta’s successful entrepreneurial track record with companies like MakeMyTrip and Zomato.
Lyskraft, a new venture in the women’s apparel sector founded by industry veterans Mukesh Bansal and Mohit Gupta, has recently secured a significant seed funding round of $26 million, with Peak XV Ventures leading the investment.
The Gurugram-based omnichannel fashion and lifestyle platform attracted investments not only from Peak XV Partners but also from Prosus, Sofina, and Partners of DST Global. Notable industry figures such as Deep Kalra, Rajesh Magow, and Deepinder Goyal have also contributed to the funding.
Lyskraft, developed in stealth mode over recent months, offers a curated selection of over 15 women’s fashion brands and designers, with new additions made on a weekly basis. The startup has already made its mark with the launch of a premium pop-up store at Ambience Mall in Gurugram and plans to expand its reach through online retail as well.
According to Mohit Gupta, co-founder and CEO of Lyskraft, the future of retail lies in omnichannel approaches, especially for premium fashion categories where the tactile experience of the product is crucial for consumers. Gupta also emphasized India’s rich heritage in fabrics, crafts, and manufacturing as key factors that position Lyskraft for success on the global stage.
While Mohit Gupta takes the helm as CEO, Mukesh Bansal will serve as a strategic advisor to the business, alongside his role as co-founder.
Peak XV Ventures, the lead investor in this funding round, brings significant experience in the fashion industry, having previously backed successful ventures like Go Fashion. Mohit Bhatnagar, Managing Director at Peak XV, expressed excitement about partnering with Mohit Gupta, a seasoned entrepreneur with successful IPO journeys in companies like MakeMyTrip and Zomato, to build Lyskraft into a pioneering fashion and lifestyle brand.
The funding round signifies a vote of confidence in Lyskraft’s vision and potential to redefine the fashion and lifestyle sector, showcasing the continued interest and investment in India’s startup ecosystem.
