Total amount raised
$1.8 Billions
Latest funding date
Location
Title
Lenskart has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company offers a wide range of eyewear products, including prescription glasses, contact lenses, and sunglasses.
Keep reading to explore the intricacies of Lenskart's fundraising journey and the investors backing this innovative platform.
What Is Lenskart?
Lenskart, founded in 2008, is an online optical platform based in Gurgaon, Haryana, India. The company was established by Amit Chaudhary, Peyush Bansal, Ramneek Khurana, and Sumeet Kapahi.
Specializing in prescription eyewear, branded contact lenses, and sunglasses, Lenskart has revolutionized the eyewear industry with its omni-channel approach. The platform integrates both online and offline shopping experiences, offering a wide range of products and services.
With a workforce of over 10,001 employees, Lenskart continues to expand its reach, providing home eye check-up services and premium eyewear under the brand John Jacobs.
How Much Funding Has Lenskart Raised?
- Amount Raised: $275M
- Date: December 2019
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance technological capabilities.
- Amount Raised: $95M
- Date: May 2021
- Lead Investors: Kohlberg Kravis Roberts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to existing shareholders.
- Amount Raised: ₹16.5B
- Date: July 2021
- Lead Investors: Alpha Wave Global, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel international expansion and product development.
- Amount Raised: ₹7.6B
- Date: April 2022
- Lead Investors: Alpha Wave Incubation, Epiq Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance customer experience.
- Amount Raised: ₹2.2B
- Date: June 2022
- Lead Investors: Avendus Capital, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic acquisitions and market expansion.
- Amount Raised: ₹1B
- Date: August 2022
- Lead Investors: Ravi Modi Family Trust
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand retail footprint.
- Amount Raised: ₹3.2B
- Date: November 2022
- Lead Investors: DSP Mutual Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen supply chain and logistics.
- Amount Raised: $500M
- Date: March 2023
- Lead Investors: Abu Dhabi Investment Authority
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and innovation.
- Amount Raised: $100M
- Date: June 2023
- Lead Investors: Chrys Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and enhance technology infrastructure.
- Amount Raised: $200M
- Date: June 2024
- Lead Investors: Temasek Holdings
- Valuation at Round: $5 billion
- Motivation Behind the Round: To increase market share and expand operations.
Total amount raised: $1.37 billion. Current valuation: $5 billion.
Key Investors
- Temasek Holdings
- Details: Temasek Holdings is a Singaporean holding company owned by the Government of Singapore. It is a global investment company with a portfolio spanning various sectors and geographies.
- Investment Focus Areas: Financial services, telecommunications, media & technology, transportation & industrials, consumer & real estate, life sciences & agribusiness, energy & resources.
- Notable Investments: Alibaba, DBS Bank, Singapore Airlines.
- Fidelity Management & Research Company (FMR)
- Details: Fidelity Management & Research Company is an American multinational financial services corporation based in Boston, Massachusetts. It provides investment management, retirement planning, portfolio guidance, and brokerage services.
- Investment Focus Areas: Technology, healthcare, financial services, consumer goods.
- Notable Investments: Uber, Airbnb, SpaceX.
- Abu Dhabi Investment Authority (ADIA)
- Details: The Abu Dhabi Investment Authority is a sovereign wealth fund owned by the Emirate of Abu Dhabi. It invests funds on behalf of the Government of Abu Dhabi to diversify the economy and generate long-term returns.
- Investment Focus Areas: Diversified investments across various sectors.
- Notable Investments: Citigroup, Glencore, Reliance Industries.
- ChrysCapital
- Details: ChrysCapital is a private equity firm based in India. It focuses on growth investments in Indian companies across various sectors.
- Investment Focus Areas: Technology, financial services, consumer goods.
- Notable Investments: Infosys, HDFC Bank, Mphasis.
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund managed by SoftBank Group, a Japanese multinational conglomerate. The fund focuses on large-scale investments in technology companies.
- Investment Focus Areas: Technology, telecommunications, energy.
- Notable Investments: Alibaba, Uber, WeWork.
What's Next for Lenskart?
Lenskart's future is brimming with opportunities, particularly in expanding its international footprint. With significant investments from Temasek and Fidelity, the company is poised to strengthen its presence in Southeast Asia and the Middle East. The construction of a massive factory near Bengaluru airport will further bolster its production capabilities, enabling it to meet growing demand.
As Lenskart continues to attract major investors, future fundraising opportunities seem promising. The potential for an IPO looms large, offering a substantial avenue for capital infusion. However, the path ahead is not without challenges. Managing international operations and maintaining profitability amidst fierce competition will require strategic finesse and operational efficiency.
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