Private Equity

PE Fund Investments

Eye-wear chain Lenskart attracts $12.5 M from Manyavar promoter family

INC42  

IPO-bound eyewear retailer Lenskart is raising close to USD 12.5 million from Ravi Modi Family Trust, one of the promoters of Kolkata-based Vedant Fashions (which owns brands such as Manyavar, Mohey, and Manthan).. The company has allotted 4,79,037 Series I CCPS for INR 99.9 crore (USD 12.5 million) to the trust. The round is part of a bigger round ($200 million reported in July) led by Alpha Wave Ventures. Founded in 2010, Lenskart claims to serve 1,00,000 customers per month. The company boasts of serving more than 7 million customers annually through its omnichannel shopping experience.