Listed below are some of the major news of the startup sector, take a look to stay updated:
Glassic opens its first retail store in Bangalore
Eyewear startup brand Glassic which designs and manufactures sunglasses has inaugurated its flagship store at Indiranagar, Bengaluru. The grand opening of ‘Glassic’s store’ was marked by the presence of fashion guru Prasad Bidapa who had a tête-à-tête with fashion enthusiasts and other guests present at the event.
Owned and operated by Glassic Eyewear Pvt. Ltd, Glassic is a private label fashion eyewear brand that designs and manufactures eyewear in-house. The startup was founded by brothers Kailash and Devesh Nichani in 2015.
Lenskart invests $500,000 in California-based startup ThinOptics
Lenskart announced an investment of $500,000 ($0.5 million) in ThinOptics. The latter makes innovative reading glasses that stick on your nose; you can attach them to your phone, keychain, laptop, such that you never forget them. Through innovative technology and a deep focus on consumer satisfaction, Lenskart – founded in 2010 – has grown more than 200% year on year, to be among the top 3 optical businesses in India. The company claims to ship 300,000 eyewear per month which is the largest in the country now.
This is Lenskart’s third investment in less than a year. The company, in September 2017, invested in Ditto, which is an augmented reality technology for trying frames online.
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HR Tech startup Leena AI gets a new investor
Founded by Adit Jain, Mayank Goyal, and Anand Prajapati, Leena AI is an AI-powered HR Assistant providing instant responses to employee queries and improving the employee experience. Currently, the startup has 12 paying clients including Coca-Cola Vietnam, Pearson, Marico, RPG among others on board.
As per a report, Leena AI has confirmed an investment from Y Combinator and has also become a part of their summer class 2018.
The U.S based investor will basically help the team in making introductions to companies that could make use of this tool.
Foodtech startup Biryani by Kilo grabs $1 Mn pre-Series A funds
Foodtech startup in biryani space ‘Biryani by Kilo’ has raised about $1 million in its Pre-series A round of funding from a clutch of investors led by Ajay Relan, Founder Chairman at CX Partners and Vinay Mittal from HT Media Strategy.
Currently, the Gurugram-based startup has a total of 11 outlets in India across Delhi-NCR and Mumbai. With the fresh capital infusion, it is looking to expand its footprint in the domestic market by opening over 20 stores in metros by March next year.
Founded by Kaushik Roy and Vishal Jindal in 2015, Biryani by Kilo had earlier raised angel funding of Rs 2.5 crore at valuation in the range of Rs 14 crore.
Today’s Take Away:
For a business to succeed, it’s very important to have a great team that comprises people who know their work to the T. It is essential that everyone knows their job and does not interfere with others during problem-solving sessions.
Edwin Catmull, President, Pixar says,
“If everyone is trying to prevent error, then it screws things up.”
