Lenskart Plans to Raise $100 Mn from ChrysCapital

Lenskart, an omnichannel eye retailer brand is planning to raise $100 Mn ( Rs. 828 Crore ) from a private equity firm ChrysCapital. The eyewear brand plans to raise this amount at a valuation of $4 Billion.

This million-dollar deal is yet to move into final phase. Additionally, if this deal gets finalized, it would become one of the biggest investments of ChrysCapital.

Lenskart has previously raised investments worth millions. With the addition of $100 Mn, the total funding will now stand as $500 Mn at Lenskart.

Furthermore, venture capital firms like Kedaara Capital, SoftBank Vision fund, TR Capital and many others are planning for partial exits. Apart from this, firms like Alpha Wave Global which is also looking to be a part of this financing round. The firm will also look to buy some additional shares for financing the eyewear brand, Lenskart.

As per some reports, the secondary share sale round will be a shift of shares from existing to new investors. However, the amount will not be transferred to the company’s coffers. This omnichannel eyewear retailer brand has created a phenomenal way for partial exits to investors. Over the last few years, Lenskart has made use of secondary share sales for exits to investors which include Chiratae Ventures and others.

Lenskart’s Background

Set up in 2010, Lenskart is an eyewear retailer brand that currently operates over 1000 locations. Its founders are Peyush Bansal, Amit Chaudhari and Sumeet Kapahi.

Certainly, Lenskart has created a solid eyewear ecosystem at very affordable prices. It has also consistently revised its designs which produced more sales and growth. Over the past few years, Lenskart is growing day by day. As per some reports, the company achieved INR 415 crore in sales in December. The revenue of the company stood at INR 1,503 Crore in FY 2022. The company has raised funding from multiple investors as well as Venture capital firms.

Furthermore, Lenskart acquired a majority stake in the Japanese eyewear brand, Owndays. The company is growing and climbing the heights of success day by day.