Private Equity

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Eyewear chain Lenskart raises $200-M from Alpha Wave, Temasek, others

Economic Times  

Omni-channel eyewear brand Lenskart has closed a USD 200 million funding round led by Alpha Wave Global at a valuation of USD 4.5 Billion. Existing investors including Temasek, Epiq Capital, Avendus Future Leaders Fund II also participated in the round - which has been happening over various tranches. With this, the eyewear platform, which was started in 2010, has raised around USD 1 Billion, including secondary share sales. The company plans to open 400 more stores in India adding to its existing network of over 1,000 stores. Lenskart reported an operating revenue of over INR 905 crore in FY 2021 with profits of nearly INR 29 crore. On June 30, Lenskart closed a USD 400 million acquisition of Japan's Owndays to create one of the largest eyewear businesses in Asia.