Latest Startup News-
Airblack, an online makeup and beauty upskilling platform, has raised $5.2 million in its Series A round funding. The Indian startup Airblack started as a travel and hospitality venture but due to the impact of Covid 19 on startups, the company had to switch to another line of business that saw a new boom due to the same Pandemic, the online education business. The series A round funding, was led by Info Edge Ventures and Elevation Capital, who are also former SAIF partners. Atelier Ventures and Better Capital also took part in helping the rising Indian Startup to grow, Some angel investors from the Indian Startup Community including Kunal Shah, founder of Cred, Ankur Nagpal, Founder and CEO of teachable and Sanjeev Barnwal, Founder and CTO of Meesho also participated with great vim and vigor.
The fund raised, will act as fuel in the accelerating wagon of Airblack, for the expansion of the brand and the introduction of new clubs for users and investment will also be made in product management and development part of the business, engineering and marketing will also get new budgets to raise the brand awareness, said Airblack to press in a recent release.
The startup is founded by former Elevation Capital’s executives, Pulkit Pujara and Videt Jaiswal who worked on this idea together, the startup helps aspiring people to upskill and become what is called the micro-entrepreneurs in the beauty skilling industry. This startup funding news, indicates that investors see great potential in this rising Indian Startup, and have also given a hint that they might fund more upcoming startups in India, if they see some potential.
Started as a company that was focused on the travel and hospitality industry, Airblack changed lanes to the beauty side after the pandemic hit the travel and hospitality industry, and brought everyone in that business on their knees. Airblack had raised $1.5 million seed capital from elevation in August 2019. According to the startup spokespersons, over 25,000 students have attended their various courses across more than 500 cities, and it clocks a surprisingly huge amount of time spent on online classes, over 45,000 hours of live classes every month. This supports the claim of Airblack about their expansion plans and the potential of business all over the globe, not only it’s a piece of good news for the rising startup but also for the Indian Business Community. Let’s see how far this series A funding takes Airblack on the journey to its success.
No comments:
Post a Comment