Eyewear brand Cleardekho gets USD 5 mn from Sphiticap, others

Eyewear brand Cleardekho has raised USD 5 million (about Rs 41.19 crore) in a funding round led by domestic fund Sphiticap, which has infused USD 2.3 million.

The startup on Tuesday said it will use the funds to expand its operations and product development.

The other investors who joined series-A funding round include Venture Catalysts, Dholakia Ventures, NB Ventures, Estrela Ventures, Cornerstone and others, Shivi Singh, founder of Cleardekho said.

The city-based Sphiticap is an early-stage venture capital fund that invests in a sector-agnostic manner. The fund has an investible corpus of USD 500 million, its managing partner Pallav Kumar Singh said.

Cleardekho was founded in 2017 and operates over 100 stores across 40 cities.