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February 07, 2013

Deal Alert: Unilazer Ventures leads Rs.53-Cr Series B funding for e-tailer LensKart

UTV founder Ronnie Screwvala-led Unilazer Ventures has invested Rs.53 crore (about $10 million) along with existing investor IDG Ventures India, in New Delhi-based Valyoo Technologies, which owns sites like LensKart, BagsKart, WatchKart and JewelKart. Signal Hill Capital Advisory India was the exclusive financial advisor to the deal. The latest funding will help Valyoo expand to smaller towns and cities, build offline franchises and design products based upon specific market research about customer preferences. It will also help in strengthening the supply chain & marketing.

IDG had invested $4 million (Rs.22 crore) in the startup in 2011. Valyoo, founded by IIM-B graduate Peeyush Bansal in 2010, has raised about Rs.75 crore till now. 

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