Valyoo Technologies Is Unilazer Ventures’ Debut e-Commerce Investment

by Paul Joseph on February 8, 2013 · 0 comments

Unilazer Ventures has chosen to step into the world of e-Commerce sector by investing in multi-portal lifestyle products e-tailer Valyoo Technologies. Along with earlier investor IDG Ventures, the duo has put in a total of Rs. 53 Crores (@ US$ 10 Million). The funds are expected to fetch a double digit stake for Unilazer in Valyoo. The company operates specific vertical niche products websites namely: LensKart, BagsKart, WatchKart and JewelsKart. Built up last year, the Unilazer Venture Fund has a total monetary strength of US$ 100 Million & according to the company, will finance startups in their early stages. As for Valyoo, the fund managers regard the line of business to be very nascent & promising, said Amit Banka, MD Unilazer Ventures “ Eye care and eye wear is a massive and growing unbranded market which Valyoo strives to convert and capture ”. Despite the perception of a relatively disrupted product niche, Valyoo’s business acumen has enabled it to garner significant traction, “ We have grown over 20 times in turnover during last 12 months ,” confirmed Valyoo Technologies, founder Peeyush Bansal. With a total of Rs. 75 Crores (US$ 14 Million) worth of funding backing the venture, it may now be the right time to scale up the operations & bring in additional features. Which is precisely what the company is planning on doing, “ We will also strengthen our supply chain and invest in marketing ” he added. Coincidentally, Valyoo’s Lenskart alone, contributes more than 50% of the total revenue for the company. India’s eye-wear market is currently valued at US$ 4 Billion & hence it makes perfect sense to launch websites which cater specifically to such needs. Valyoo has proven its worth in the Indian e-commerce segment. Hence there’s no doubt Unilazer’s investment is in right hands. Let’s see how well it grows this year. Image Courtesy |  cbc.ca   Looking For A Social Media Agency?? – Contact WATConsult – India’s Leading Social Media Agency

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