Consumer brands Enrico Eyewear and Ugees raised early-stage funding, the companies said on Thursday.
Enrico Eyewear has raised $252,178 (Rs 2.1 crore) in a pre-seed funding round led by 100X.VC. The round also saw participation from undisclosed angel investors.
The funding will be utilised to expand market presence, distribution network and product portfolio.
Founded in 2017, Enrico has a range of affordable eyewear solutions, which include computer glasses and sunglasses.
“Enrico is targetting an untapped market in the Indian space and has potential for rapid growth,” said Ninad Karpe, founder and partner, 100X.VC.
Early-stage investor 100X.VC was founded by Karpe, former chief executive officer of Aptech India, Sanjay Mehta, Shashank Randev, founder of VCCEdge, the data intelligence platform by VCCircle; Vatsal Kanakiya, an engineer who worked as an investor at various funds before becoming CTO at 100X and Yagnesh Sanghrajka, chief financial officer at the company.
Undergarment care brand Ugees raised an undisclosed amount in its pre-seed funding round from startup accelerator EvolveX.
The brand will deploy the funds for customer acquisition and introduce new stock-keeping units (SKUs).
Headquartered in Noida, Ugees was founded by Rahul Tyagi and Samiksha Yadav. Ugees is an undergarment care brand whose liquid wash has antibacterial and antifungal properties eliminating infection-causing bacteria and yeast and does not contain harmful chemicals such as Sulphate, Phthalate, Paraben, and additives.
“We aim to promote better hygiene practices with Ugees-undergarment liquid wash and change how undergarment care is perceived and practiced,” said Yadav, co-founder and chief executive officer, Ugees.
On the other hand, EvolveX is a startup accelerator program operated by early-stage investor We Founder Circle (WFC). Through the program, it invests Rs 25 lakh for a 5% stake in a selected company.
