Lenskart is an eyewear retailer that recently raised $200 million in its second fundraising round from Temasek and Fidelity Management & Research Company. This investment allowed Temasek to increase its stake in the startup. The company’s transaction advisor, Avendus Capital, mentioned that Lenskart had more than $1 billion in capital after this round. Here we are talking about Lenskart, which secured $200 million in a round led by Temasek and FMR.
Here we are talking about Lenskart, which secured $200 million in a round led by Temasek and FMR:
The startup plans to use this fund to enhance its technology and focus on market expansion. The startup is based in Gurgaon and was founded by Peysh Bansan to offer best-in-class and affordable eyewear to its customers and solve their eye-related problems. The company saw participation from its existing investors, including Temasek, and new investors, including the FMR company. Lenskart is predicted to be valued at over $5 billion in its secondary funding round. The startup has expanded nationally and globally. The company has made its name in international markets, including Southeast Asia and the Middle East.
This startup has recently invested in diverse brands, including GeoIQ, TangoEye, and Owndays. The Singapore-based startup, Neso, is a Lenskart subsidiary that secured $100 million in its seed funding round in May 2022. Lenskart has invested in Le Petit Lunetoer through its Neso Brands. The company increased its revenue to Rs 3,788 crore in FY23 from Rs 1,502 in FY22. Through scaling and expenditure management, Lenskart reduced its losses by 37.3% to Rs 64 crore. The company has the most income from India, with 59% of its total revenue, and the remaining income was from international operations, including Singapore, the U.S., the Middle East, and Dubai.
The founder of Lenskart mentioned acquiring land near Bengaluru airport to set up a new factory. The company also offers an online platform to match a perfect frame according to customer preferences. The company claims to have in-house robotic lens manufacturing that ensures 100% accuracy and the best quality glasses.
Conclusion
Lenskart secured a $200 million investment in the second round led by Temasek and Fidelity Management & Research Company. The startup plans to use this fund to enhance its technology and concentrate on market expansion. The startup is based in Gurgaon and was founded by Peysh Bansan to offer best-in-class and affordable eyewear to its customers and solve their eye-related problems. Lenskart is predicted to be valued at over 5 billion USD in its secondary funding round. Lenskart is expected to be valued at over $5 billion in its secondary funding round. The startup has expanded nationally and globally.
The startup has expanded nationally and internationally. The company claims in-house robotic lens manufacturing that ensures 100% accuracy and the best-quality glasses. The startup earned the most revenue from India, with 59% of its total revenue, and the remaining income was from international operations, Including the U.S., Singapore, the Middle East, and Dubai. The advisor of the transaction for the company, Avendus Capital, mentioned that after this round, Lenskart had more than $1 billion in capital.
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