Total amount raised
$11.3 Millions
Latest funding date
10/01/2022
Location
Cleardekho has successfully raised funds through a Series A round, attracting a diverse group of 38 investors, including Sphiticap and Faad Network. The company continues to expand its online eyewear marketplace, offering a wide range of products such as eyeglasses, sunglasses, and contact lenses.
Stay tuned to learn more about Cleardekho's funding journey and the strategic investors backing this innovative platform.
What Is Cleardekho?
Cleardekho, founded in 2016, is an online eyewear marketplace based in Ghaziabad, Uttar Pradesh, India. The company was established by Saurabh Dayal and Shiv Singh.
Operating in the eyewear and internet industries, Cleardekho offers a variety of products, including eyeglasses, sunglasses, and computer glasses. The company employs between 101 and 250 people, aiming to provide affordable and stylish eyewear options to its customers.
How Much Funding Has Cleardekho Raised?
- Series A
- Amount Raised: $5M
- Date: October 2022
- Lead Investors: Sphiticap, Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To capitalize on the shift in consumer behavior due to increased screen time and to support growth in tier-II, -III, and -IV cities.
- Seed Round
- Amount Raised: ₹300M (approximately $4M)
- Date: October 2021
- Lead Investors: Aroa Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance product offerings.
- Seed Round
- Amount Raised: $2M
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market penetration.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2018
- Lead Investors: SOSV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development.
- Seed Round
- Amount Raised: ₹20M (approximately $250K)
- Date: June 2018
- Lead Investors: Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a market presence and develop the product line.
Total Amount Raised: $11.25M
Current Valuation: Not publicly disclosed
Key Investors
- Venture Catalysts
- Details: Venture Catalysts is a leading early-stage investment firm in India. They provide capital, mentoring, and networking opportunities to startups.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Beardo, Fynd, PeeSafe
- SphitiCap
- Details: SphitiCap is an India-centered, early-stage sector-agnostic fund. They focus on high-growth potential companies.
- Investment Focus Areas: Technology, consumer goods, healthcare
- Notable Investments: Not publicly disclosed
- Dholakia Ventures
- Details: Dholakia Ventures is an investment firm that provides capital to early-stage companies. They support startups and growth-stage companies.
- Investment Focus Areas: Technology, consumer products
- Notable Investments: Not publicly disclosed
- NB Ventures
- Details: NB Ventures is an investment firm that supports startups and growth-stage companies. They provide capital to innovative businesses.
- Investment Focus Areas: Technology, healthcare, consumer goods
- Notable Investments: Not publicly disclosed
- Estrela Ventures
- Details: Estrela Ventures is an investment firm that focuses on early-stage companies. They invest in sectors such as technology and consumer products.
- Investment Focus Areas: Technology, consumer products
- Notable Investments: Not publicly disclosed
What's Next for Cleardekho?
Cleardekho is poised to capitalize on the growing demand for affordable eyewear in tier-II, -III, and -IV cities. With over 100 stores already established, the company aims to further standardize the unorganized optical retail market through its asset-light omnichannel O2O business model. This expansion presents a significant opportunity, given the increasing screen time among consumers and the shift towards online shopping.
Future fundraising opportunities appear promising as Cleardekho continues to demonstrate substantial growth, attracting interest from investors. The company’s ability to maintain its rapid expansion while ensuring quality and affordability will be crucial. However, challenges such as competition from other eyewear brands and managing logistics for both online and offline channels may arise. Strategic acquisitions could also play a role in consolidating its market position.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Cleardekho and gather other critical business insights.
Sign up for free to start unlocking valuable information that can drive your sales success.
