Lenskart raises $200 million; Fidelity Management & Research joins the captable

One of India’s leading eyewear retailer and a unicorn, Lenskart, has raised $200 million in secondary investment from Temasek and Fidelity Management & Research Company (FMR). After this fundraise, Lenskart is likely to be valued at around $5 billion

With this round, Temasek has doubled down on its existing investment in Lenskart, with Fidelity Management & Research Company (FMR) joining the captable. This transaction brings Lenskart’s total capital raised to nearly $1 billion over the last 18 months, ranking it among the largest growth-stage financings globally.

In its last funding round in 2023, the Peyush Bansal-led company had raised $100 million from private equity firm ChrysCapital.

The Gurugram-headquartered company is expanding its reach in India and scaling its international presence in Asia, including Southeast Asia and the Middle East. Through its click-and-mortar business model, the company offers an omni-channel customer experience across online platforms, mobile applications, and physical stores.

Currently, Lenskart operates over 2,500 stores, with approximately 2,000 located in India.

Avendus Capital served as the exclusive financial advisor to Lenskart and its selling shareholders for this transaction.

According to a statement by Avendus on its website, Lenskart continues to demonstrate strong growth and consistent profitability.

Neeraj Shrimali, Managing Director and Co-Head, Digital and Technology Investment Banking, Avendus Capital said, “We are delighted to once again partner with Peyush and the Lenskart team. Lenskart has built one of the most defensible businesses with an omnichannel experience, deep backward integration, and a steadfast commitment to customer satisfaction. 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.”

Shrimali also added that late-stage tech companies will continue to garner strong investor interest demonstrating the robustness and excitement of the Indian consumer tech landscape.