Temasek and Fidelity Fuel Lenskart with USD 200 Mn Investment
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Eyewear retailer Lenskart announced that it has raised USD 200 million in secondary investment from Temasek and Fidelity Management and Research Company.
Avendus Capital was the exclusive financial advisor to Lenskart and its selling shareholders on this transaction.
Through this deal, Lenskart has raised about USD 1 billion in funding in the last 18 months, the company announced in a statement.
Temasek had already taken part in a 2021 fundraising round of USD 220 million. With the most recent funding inflow, Fidelity has joined Lenskart’s cap table.
The eyewear brand received a USD 100 million investment last year from a private equity group, ChrysCapital.
Neeraj Shrimali, Managing Director and Co-head of Digital and Technology Investment Banking, Avendus Capital, said, “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. We are excited about what lies ahead for Lenskart and Peyush.”
Lenskart was founded in 2008 by Peyush Bansal, Amit Chaudhary, Neha Bansal, and Sumeet Kapahi. The eyewear brand became a member of the coveted unicorn club in 2019, and TechCrunch reports that it is now valued at over USD 5 billion after its most recent fundraising.
In addition to expanding into India, Lenskart has also increased its market share in other foreign regions, like Southeast Asia and the Middle East. The platform claims to have more than 2,500 stores, of which approximately 2,000 are in India.
