lenskart to invest more in john jacobs aviom india, food...

8/29/2018 Aviom India, Food Memories raise funds; Lenskart to invest more in John Jacobs

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Aviom India, Food Memories raise funds;Lenskart to invest more in John Jacobs

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While Aviom India Housing Finance and Food Memories have raised funds,online eyewear firm Lenskart is investing $4 million more in its affordable-premium eyewear brand John Jacobs.

Aviom India Housing raises $2.3m from Insitor Impact Asia Fund

Aviom India Housing Finance has raised Rs 15 crore ($2.3 million) fromCambodia-based impact investor in its Series-A round of funding, according to inThe Economic Times.

As per the news report, the Delhi-based investor plans to use this latestfunding to increase its branches and expand operations in tier-II and tier-III townsin existing states, and subsequently expand to other states.

Avoim provides loans to low-income individuals and families, and currently has 14branches in Rajasthan and Madhya Pradesh.

The company already has a debt line of Rs 17.5 crore and plans to raise anotherRs 100 crore in the next six months, said the report.

Food Memories raises seed round

Food Memories, an online marketplace for Indian foods has raised seed fundingof an undisclosed amount from a group of eight investors.

According to a report in The Economic Times, the round was led by Delhivery co-founders Bhavesh Manglani and Suraj Saharan; and Darshan Upadhyay andSanjay Notani, Partners at Economic Laws Practice, Mumbai.

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The other investors in the round include Vaishali Patel from Ahmedabad, VivekPabari, Prateek Nijhawan and Kapil Bhushan- Investment Bankers from Mumbaiand Abhishek Bhalla, from Delhi.

Sachin Khandelwal, Founder of Bangalore-based Corporate Gifting major – KirtiSales & Services, has also joined the investor group, said the report.

This latest funding will be used to expand Food Memories’ current businesssegments as well as to help the company to establish a physical retail footprint inthe top cities across India.

Lenskart to invest $4m more in its John Jacobs brand

Online eyewear firm is investing $4 million more in its affordable-premiumeyewear brand John Jacobs to set up more stores in metros like Bengaluru,Mumbai and Delhi-NCR.

According to a company statement, John Jacobs is expected to grow ten times tobecome a Rs 500-crore business by 2020, with around 50 stores across tier-I andII cities in India.

At present John Jacobs has five stores, which is likely to be increased to 20 thisyear. The company is also said to be looking to partner with large format retailstores to sell the John Jacobs range.

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