Lenskart raises $200 Mn in secondary round

Funding Lenskart

Eyewear retailer Lenskart has raised $200 million in secondary investment from Temasek and Fidelity Management & Research Company (FMR).

Over the past 18 months lenskart has successfully secured nearly $1 billion in capital. It is valued at 5 billion dollar at secondary fund raise . The Peyush Bansal-led firm was last valued at $4.5 billion during $100 million funding in June last year. The company also raised the largest secondary funding in March last year.

With India lenskart, has footprint in International market such as Southeast Asia & Middle East. The company claims to have more than 2,500 stores of which approximately 2,000 are in India.

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In last yrs,lenskart also invested in brands such as GeoIQ, Owndays and Le Petit Lunetier through Neso Brands and TangoEye. Singapore-based Neso is a subsidiary of Lenskart which raised $100 million in its seed funding in May 2022.

it’s revenue from operations soared to Rs 3,788 crore in FY23 from Rs 1,502 crore in FY22. The decent scale and controlled expenditure helped the company to reduce its losses by 37.3% to Rs 64 crore in FY23 from Rs 102 crore in FY22.

It’s primarily generated revenue from the sale of eyewear and its collections from India formed 59% of its total revenue. The remaining income was derived from international operations in countries such as Singapore, Dubai, the US, and Southeast Asia.

Recently,peyush Bansal said that the company is looking to acquire land near Bengaluru airport to set up a mega factory.

 

 

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