New Delhi: Indian eyewear retailer Lenskart has raised US$200 million in a secondary investment from Temasek and Fidelity Management & Research Company (FMR), according to a statement from Avendus.
The investment marks Temasek doubling its existing investment in Lenskart, while Fidelity Management & Research Company (FMR) joins the cap table.
Following the transaction, Lenskart has attracted nearly US$1 billion of capital over the past 18 months, making it one of the largest growth-stage financings globally, according to a statement from Avendus Capital.
"Lenskart, Asia's largest eyewear retailer, has raised US$200 million in a secondary investment from Temasek and Fidelity Management & Research Company (FMR)," it said.
Avendus Capital advised Lenskart and its selling shareholders on their US$200 million secondary investment.“Lenskart continues to deepen its penetration in India while rapidly expanding its international presence in Asia, including Southeast Asia and the Middle East. With a unique clicks and mortar business, it offers a seamless true omni-channel customer experience. is revolutionizing the eyewear industry online, on mobile applications and in stores,” the statement said.
The company now has over 2,500 stores, of which around 2,000 are in India, it said, adding that Lenskart is delivering strong growth and consistent profitability.
“We are delighted to once again partner with Push and the Lenskart team,” said Neeraj Shrimali, Managing Director and Co-Head, Digital and Technology Investment Banking, Avendus Capital.Shrimali explained that Lenskart has built one of the most defensible businesses with an omnichannel experience, deep backward integration and a strong commitment to customer satisfaction.
Shrimali said, “This investment from renowned global investors underlines the uniqueness of Lenskart's disruptive model and highlights the excitement around what will be one of the most awaited IPOs in India in the coming years. We look forward to what lies ahead for Lenskart and Puish. It's going to happen, excited about it." More late-stage tech companies will continue to garner strong investor interest, demonstrating the strength and excitement of the Indian consumer tech landscape.
The investment marks Temasek doubling its existing investment in Lenskart, while Fidelity Management & Research Company (FMR) joins the cap table.
Following the transaction, Lenskart has attracted nearly US$1 billion of capital over the past 18 months, making it one of the largest growth-stage financings globally, according to a statement from Avendus Capital.
"Lenskart, Asia's largest eyewear retailer, has raised US$200 million in a secondary investment from Temasek and Fidelity Management & Research Company (FMR)," it said.
Avendus Capital advised Lenskart and its selling shareholders on their US$200 million secondary investment.“Lenskart continues to deepen its penetration in India while rapidly expanding its international presence in Asia, including Southeast Asia and the Middle East. With a unique clicks and mortar business, it offers a seamless true omni-channel customer experience. is revolutionizing the eyewear industry online, on mobile applications and in stores,” the statement said.
The company now has over 2,500 stores, of which around 2,000 are in India, it said, adding that Lenskart is delivering strong growth and consistent profitability.
“We are delighted to once again partner with Push and the Lenskart team,” said Neeraj Shrimali, Managing Director and Co-Head, Digital and Technology Investment Banking, Avendus Capital.Shrimali explained that Lenskart has built one of the most defensible businesses with an omnichannel experience, deep backward integration and a strong commitment to customer satisfaction.
Shrimali said, “This investment from renowned global investors underlines the uniqueness of Lenskart's disruptive model and highlights the excitement around what will be one of the most awaited IPOs in India in the coming years. We look forward to what lies ahead for Lenskart and Puish. It's going to happen, excited about it." More late-stage tech companies will continue to garner strong investor interest, demonstrating the strength and excitement of the Indian consumer tech landscape.
