Myntra, Cult.fit co-founder Mukesh Bansal bets on new fashion venture

The venture is aimed at Gen Z shoppers and is backed by prominent investors such as Peak XV Partners and Accel

Mohit Gupta, co-founder of Zomato, is joining Bansal's venture as a co-founder

Bansal's experience in the online shopping world is well-known, with his success in Myntra and investment in Virgio, a fashion brand for Gen Z

Meraki Labs is the main company for the startup and works with different people and companies to create products

Gen Z is becoming increasingly important for online shopping, with one out of every three online shoppers being from this age group This has resulted in other big online fashion sites like Flipkart and Myntra creating services just for Gen Z.