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Exclusive: Ex-Unacademy CBO Abhinav Agarwal’s New Eyewear Startup Raises $2.2 Mn
- Former Unacademy CBO Abhinav Agarwal is launching an eyewear startup and has secured $2.2 million in seed funding led by India Quotient.
- Angel investors participating in the funding round include notable names like Gaurav Munjal, Kunal Shah, Kunal Bahl, and others.
- The startup, currently in stealth mode, will use the funds for research, brand building, team expansion, and inventory.
- Agarwal, with prior experience at Unacademy and cofounding DoorMint, aims to enhance eyewear quality in India without compromising on design or experience.
- The startup plans to sell products online and through physical stores, with a virtual try-on feature on its upcoming website.
- The founder highlights the gap in quality eyewear available at premium prices and aims to address this gap in the market.
- The evolving eyewear industry, now a blend of utility and fashion, presents a significant opportunity due to increasing disposable incomes.
- The Indian eyewear market is projected to reach $6.24 billion by 2025 with a growth rate of 5.26% till 2029 according to Statista.
- Competition for the startup includes tech players like Lenskart and ClearDekho, alongside traditional brands like Titan and Himalayan Eyewear.
- Agarwal's venture plans to focus on retail outlets for better user engagement and feedback, aiming to leverage the personal touch of in-store experiences.
- The formal launch of the startup is expected in the upcoming months, coinciding with the opening of its first physical store.
- Despite competition, the startup sees potential in the market due to the growing consumer interest in eyewear as a fashion statement.
- The news was initially reported by Inc42 Media.
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