Eyewear retailer Lenskart has raised USD 200 million in a secondary investment from global investment firms Temasek and Fidelity Management & Research Company (FMR), according to media reports. This transaction brings Lenskart's total capital raised to nearly USD 1 billion over the last 18 months, positioning it as one of the largest growth-stage financings globally, stated financial advisor Avendus Capital.
As per media reports, Temasek has increased its stake in Lenskart, while FMR is a new addition to the investor lineup. The eyewear retailer now boasts over 2,500 stores, including 2,000 in India.
With this latest funding, Lenskart's market valuation has soared to USD 5 billion, as per media reports. Neeraj Shrimali, MD and Co-Head of Digital and Technology Investment Banking at Avendus, praised Lenskart's strong business model, citing its omnichannel experience, deep backward integration, and unwavering commitment to customer satisfaction.
According to media reports, Shrimali expressed optimism about Lenskart's future, highlighting the growing investor interest in late-stage tech companies within the robust Indian consumer tech market. Lenskart is expanding its footprint in India and rapidly scaling its international presence in Asia, including Southeast Asia and the Middle East.
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