Through a secondary share sale, US financial services giant Fidelity and sovereign fund Temasek have jointly invested $200 million in Lenskart.
According to Avendus Capital, which served as the transaction’s advisor, Lenskart has drawn in around $1 billion in funding over the previous 18 months as a result of this deal. According to a Techcrunch report, this deal values Lenskart at a significant $5 billion.
Read also – AstroTalk Secures $9.5 Mn Series A Funding Round
It is quite possible that Lenskart’s secondary fundraising raised more than $5 billion in value. In June of last year, the company founded by Peyush Bansal raised $100 million, valuing it at the time at $4.5 billion.
Additionally, Lenskart has increased its market share in foreign regions like the Middle East and Southeast Asia. The company says it has over 2,500 outlets, almost 2,000 of which are in India.
The sale of eyeglasses was Lenskart’s main source of income; collections from India accounted for 59% of total sales. The residual revenue was obtained through global activities in nations including Singapore, Dubai, the United States, and Southeast Asia.
About Lenskart
Founded in 2010 by Peyush Bansal, Lenskart is Asia’s largest eyewear company serving 40 Million people – helping them see better and lead better quality lives. We have more than 1500 omnichannel stores across 175 cities in India, Singapore and Dubai.
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