India-based startup ClearDekho raises USD 4 million in Pre-Series A round

ClearDekho, an Indian eyewear brand, raised USD 4 million in pre-Series A funding round led by Aroa Ventures on 20 October 2021.

Investors: Aroa Ventures, which happens to be the family office of Oyo founder Ritesh Agarwal led the latest round of funding with participation from investors like CK Jaipuria Family Office (Pepsi Bottlers AP), NB Ventures Dubai, Anuj Sheth (AAJ Ventures, Dubai), Kitty Agarwal (Infoedge), Anand Chandrasekaran, Nandi Vardhan Mehta (MD, Kaaf Investments, Dubai), Magnus KJoller Holdings (Danish VC), Mandar Joshi (M Strategy Global, Dubai), Venture Catalysts, SOSV MOX (World’s Leading Startup Accelerator VC), Gemba Capital and others.

The Objectives behind the funding: The company plans to deploy the current proceeds to expand its stores across geographies (40%), marketing and on-ground activities to drive new customer acquisitions (30%) and back-end operations infrastructure to automate fittings and quality check, hiring and training infrastructure and enhance inventory and private label brands (20%).

About ClearDekho

Founded in December 2016 by Shivi Singh and Saurabh Dayal, ClearDekho is a leading affordable eyewear brand. The startup offers a range of products, including prescription eyeglasses, sunglasses, reading glasses, computer glasses, and branded contact lenses, thereby enabling customers to purchase their eyewear both from online and offline stores. The company has a strong presence in the offline market through its FOCO Retail Stores (Franchise Owned Company Operated), Converted Local Optical Retail Stores, and CD’s @ home/work/school. It claims it has grown 1300% in three years.

What the Founders have to say:

“The post-Covid exponential increase in screen time across age groups has led to the surge in demand for affordable eyeglasses, especially from new-age consumers from smaller towns which are driving the revolution. The next decade 2020 to 2030, would be defining for us,” Shivi Singh, co-founder and CEO of ClearDekho, said in a statement.

“Apart from opening new franchise outlets, ClearDekho plans to add another 1000 retail stores in the next three years by collaborating with existing optical retailers across India,” Saurabh Dayal, co-founder and COO of ClearDekho, said.

What the Investor has to say:

“The unorganised optical market has a lot of scope of becoming standardised and hassle-free for the mass consumers. We have strong conviction in the team and their expansion plans. ClearDekho will be present in 100+ cities within the next 12 months and will continue to penetrate Tier 2/3/4 cities across India,” said Gaurav Gulati, head and chief investment officer of Aroa Ventures.

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