New Delhi: Indian eyewear retailer Lenskart has secured 200 million dollars in funding from Singapore’s state investment firm Temasek and Fidelity Managament amd Research Company. This information comes from Avendus Capital, the financial advisor for the deal.
Peyush Bansal-led Lenskart with this latest transaction has attracted nearly 1 billion dollar in capital over the past 19 months as it marked one of the largest growth-stage financings globally, according to financial advisor, Avendus Capital. With this funding, Lenskart’s market valuation has touched 5 billion dollars. (Also Read: Mother Dairy Hikes Milk Prices By Rs 2 per Litre In Delhi-NCR After Amul: Check New Prices HERE)
“Lenskart has built one of the most defensible businesses with an omnichannel experience, deep backward integration, and a steadfast commitment to customer satisfaction,” said Neeraj Shrimali, MD and Co-Head of Digital and Technology Investment Banking at Avendus. (Also Read: Amul Hikes Milk Prices By Rs 2 Per Litre Across All Variants: Know Reason Behind Increase In Cost)
The investment marks Temasek doubling down on its existing investment in Lenskart, while FMR joins the cap table. Lenskart now has more than 2,500 stores, of which 2,000 are in India. “We are excited about what lies ahead for Lenskart and Peyush.
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 Shrimali. Lenskart continues to deepen its penetration in India while rapidly scaling its international presence in Asia including in Southeast Asia and the Middle East. (With IANS Inputs)
