Lenskart raises $200 million from Temasek, Fidelity Management
Lenskart has raised close to $1 billion in capital over the last 18 months, making it one of the largest growth-stage financings globally, said Avendus Capital.
- Jun 3, 2024,
- Updated Jun 4, 2024 6:56 AM IST
Indian eyewear retailer Lenskart has reportedly raised $200 million from Singapore state investment firm Temasek and Fidelity Management and Research Company, as per the financial advisor of the deal Avendus Capital. Temasek doubled down on its existing investment in Lenskart, while Fidelity joined the cap table. After this fundraise, Lenskart is likely to be valued at around $5 billion.
According to Avendus, Lenskart has raised close to $1 billion in capital over the last 18 months, making it one of the largest growth-stage financings globally.
Lenskart that aims to revolutionise the eyewear industry by offering omni-channel customer experience spanning across online, mobile application and stores, continues to deepen its penetration in India while scaling its international presence in Southeast Asia and Middle East. The company has over 2,500 stores out of which around 2,000 are in India.
“This investment by renowned global investors underscores the uniqueness of Lenskart’s disruptive model and highlights the excitement surrounding one of the most anticipated IPOs in India in the coming years…In our view, more late-stage tech companies will continue to garner strong investor interest demonstrating the robustness and excitement of the Indian consumer tech landscape,” said Neeraj Shrimali, Managing Director and Co-Head, Digital and Technology Investment Banking, Avendus Capital.
Lenskart was founded in 2010 by Peyush Bansal, along with two co-founders Amit Chaudhary and Sumeet Kaphi.
Indian eyewear retailer Lenskart has reportedly raised $200 million from Singapore state investment firm Temasek and Fidelity Management and Research Company, as per the financial advisor of the deal Avendus Capital. Temasek doubled down on its existing investment in Lenskart, while Fidelity joined the cap table. After this fundraise, Lenskart is likely to be valued at around $5 billion.
According to Avendus, Lenskart has raised close to $1 billion in capital over the last 18 months, making it one of the largest growth-stage financings globally.
Lenskart that aims to revolutionise the eyewear industry by offering omni-channel customer experience spanning across online, mobile application and stores, continues to deepen its penetration in India while scaling its international presence in Southeast Asia and Middle East. The company has over 2,500 stores out of which around 2,000 are in India.
“This investment by renowned global investors underscores the uniqueness of Lenskart’s disruptive model and highlights the excitement surrounding one of the most anticipated IPOs in India in the coming years…In our view, more late-stage tech companies will continue to garner strong investor interest demonstrating the robustness and excitement of the Indian consumer tech landscape,” said Neeraj Shrimali, Managing Director and Co-Head, Digital and Technology Investment Banking, Avendus Capital.
Lenskart was founded in 2010 by Peyush Bansal, along with two co-founders Amit Chaudhary and Sumeet Kaphi.