According to the report, , Bangalore-based IDG Ventures India invested $4 million in Valyoo Technologies Pvt. Ltd, which runs e-commerce businesses for eyewear (lenskart.com), watches (watchkart.com) and bags (bagskart.com).
In an another deal, Helion Venture Partners invested in Purple E-Retail India Pvt. Ltd, which runs baby and kids products site hoopos.com.
Both start-up refused to divulge how much has been invested in it, Helion’s managing director Ashish Gupta said it was in line with the VC firm’s average ticket investment. Helion’s so-called “sweet spot”, or the preferred investment band for early stage deals, is $3-5 million.
“We are looking at raising another round of funding by February or March; it will be more than $20 million,” said Peyush Bansal , founder and chief executive of Valyoo. With the money the firm has raised, it will start new business units for jewellery, health and beauty products, besides spending on marketing and logistics.
Bansals of FlipKart, Myntra, Snapdeal and now this!