Lenskart raises $200 million from Temasek, Constancy – Trade Information

Eyewear retailer Lenskart has raised $200 million in a secondary investment round from Temasek and Fidelity Management and Research Company, the round’s financial advisor Avendus Capital said in a statement.

Following this transaction, Lenskart has attracted close to $1 billion in capital over the last 18 months, making it one of the largest growth-stage financing globally, it said.

This latest investment likely values Lenskart at $5 billion, compared to its previous valuation of $4.5 billion.

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In the latest round, Temasek doubled down on its existing investment in Lenskart, while Fidelity Management and Research Company joined the cap table. The company now has over 2,500 stores, of which about 2,000 are in India, while the company continues to rapidly scale its international presence in Southeast Asia and Middle East.

“This investment by renowned global investors underscores the uniqueness of Lenskart’s disruptive model and highlights the excitement surrounding one of the most anticipated IPOs in India in the coming years. In our view, more late-stage tech companies will continue to garner strong investor interest demonstrating the robustness and excitement of the Indian consumer tech landscape,” said Neeraj Shrimali, managing director and co-head, digital and technology investment banking, Avendus Capital.

The company is expected to hit the public markets in the next year or so. Last year in June, the company had raised $600 million across two rounds from Abu Dhabi Investment Authority and ChrysCapital, and provided its existing investor Softbank an exit.

In FY23, Lenskart’s revenue surged to Rs 3,788 crore from Rs 1,503 crore in FY22, while net loss narrowed to Rs 64 crore from Rs 102 crore a year ago, as per the company’s regulatory filings.