Lenskart raises $200M in secondary round from Temasek, Fidelity
Temasek had previously participated in a $220-million funding in 2021. Meanwhile, Fidelity has joined Lenskart's cap table with the latest cash infusion.
SoftBank-backed eyewear retailer has raised $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.
With this transaction, Lenskart has attracted close to $1 billion in capital over the last 18 months, the company said in a statement.
Temasek had previously participated in a $220-million funding in 2021. Meanwhile, Fidelity has joined Lenskart's cap table with the latest cash infusion.
“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 [Bansal]," said Neeraj Shrimali, Managing Director and Co-head of Digital and Technology Investment Banking, Avendus Capital.
Lenskart was founded in 2008 by Peyush Bansal, Amit Chaudhary, Neha Bansal, and Sumeet Kapahi. In 2019, the eyewear brand joined the coveted unicorn club; with the latest fundraise, its valuation has crossed $5 billion, according to TechCrunch.
The company boasts 2,500+ stores of which ~2,000 are in India.
Last year, the eyewear brand raised $100 million in funding from private equity firm ChrysCapital.
Edited by Kanishk Singh