Lenskart eyes $10B IPO valuation
Indian eyewear retailer Lenskart is all set for the big moment! They’re already plotting an IPO and are aiming for a $10B valuation.
This is a massive increase from their June 2024 valuation of $200 million after a secondary round. The company expects to complete the filings by May and is targeting this year to go public.
For a 2008 startup like Lenskart, this is good expansion news. And they’ve done all of this selling stylish eyewear at not such a high price tag, and now they’re over 2,000 stores in India, Southeast Asia, and the Middle East.” ARUN POOJARA: With this IPO, it believes it can extrapolate on this tremendous growth and be a firm foundation stone as a leading brand in eyeglasses space.
Udaan raise $75 Mn at flat valuation
Udaan, a popular B2B e-commerce platform from India, has recently secured $75 million in a new round of funding. Most significantly, this investment was done at a flat valuation of $1.8B, the same as its last round. SPAC’s exit shows continued investor confidence regarding Udaan, even in a downcycle.
The investment is an existing investor in M&G, among others. The funds will be used to further enhance its supply chain capabilities, technology infrastructure and reach to many more small businesses across the country, Udaan said.
This new infusion of funds is a testament to Udaan’s growth trajectory and further establishes its dominance in the burgeoning Indian B2B e-commerce landscape. With its innovative platform, the company is helping small businesses get access to more products, make their operations smoother, and grow their businesses.
Rare Rabbit raise Rs 50 cr at flat valuation
Popular fashion brand Rare Rabbit raises Rs 50 crore from A91 Partners This marks the second investment made by A91 Partners, which also participated in a larger funding round last year.
Curiously, this new investment is at a flat valuation. That means Rare Rabbit will have the same overall worth as before. While this isn’t as thrilling as an increasing valuation, it reflects continued faith from investors in the business’s slow and steady expansion.
What’s Next for Rare Rabbit?
A portion of this investment will most likely be utilized to strengthen Rare Rabbit’s market access, considering opening new stores or opting for online distribution. So new designs or lines the company uses could also be a potential area of investment to ensure some freshness.
This investment signals good things for Rare Rabbit, despite the valuation remaining unchanged. It demonstrates that seasoned investors have confidence in the brand’s prospects and are prepared to fuel its ongoing journey.”
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FlyDubai in talks to acquire bankrupt GoFirst
GoFirst is in talks with FlyDubai for its acquisition. This is a breaking story, and the deal has not been completed.
If completed, the acquisition might shake up the Indian aviation market. It might provide FlyDubai a little more leverage in India, and may also prompt more competition among various airlines.
GoFirst had been facing financial headwinds for a while, and its bankruptcy had left several passengers stranded.
The airline’s employees fear for their jobs, too. A successful acquisition by FlyDubai could be a lifeline for the airline and its employees. There is no telling what happens now, but this is surely a milestone in aviation industry.
Zomato launch no-code AI platform ‘Nugget’
Cool new thing: Zomato launches Nugget. It’s a no-code AI platform. That means regular people, not only building wizards, can utilize it. Nugget makes it easy for businesses to adopt AI.
Things like improving menus or putting ads in front of certain people. This tool has been built by Zomato itself.
They are looking forward to sharing it with other people. That could be a game changer for small businesses looking to tap into A.I. It makes AI feel less scary and more accessible.
India’s wearable sector saw first annual decline in 2024
Wearable tech struggled to win over India in 2024. This is the first time that the market has closed down for a year.
Ouch! There are a few factors that contributed to this slump. There wasn’t as much money going around, competition became tough, and people weren’t spending as much.
Think smartwatch, fitness bands, and those cool earbuds — sales fell across the board. But don’t fret, tech experts remain optimistic.
Things are only gonna get better as the tech gets better, the devices get better, and corporations spend more time to build cool shit that doesn’t cost an arm and a leg.
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