According to a person who has been briefed on the matter, the omni-channel eyewear brand Lenskart has been valued at $4.5 billion, which represents an increase of more than a third since it recently closed a funding round consisting of $200 million and was led by Alpha Wave Global (previously Falcon Edge).
Following the completion of a $315 million round in July 2021 that was led by Singapore’s Temasek, which has also invested in the most recent funding, this results in an expansion of value for the company that is equivalent to an increase of value by an amount equal to 80 percent. The company was previously valued at $ 2.5 billion.
The funding round is now complete at $200 million, and money is still being contributed by investors in stages. According to the individual who was cited earlier, “They (Lenskart) are not looking at more capital in this round.”
When secondary share sales are factored in, the eyewear platform, which began operations back in 2010, has now successfully raised close to one billion dollars in total.
In a secondary financing, the already-existing investors sell their shares to new investors, and the money from this transaction does not go into the company’s general funds.
“We have set our sights on expanding our business by 60–70 percent during the current fiscal year,” he said. While the majority of Lenskart’s 1,100 stores can be found in India, the company has stated that it plans to open an additional 400 locations in the near future in order to increase its revenue.
According to the regulatory filings, Lenskart had an operating revenue of more than 905 crore in the fiscal year 2021, and it had profits of nearly 29 crores during that same period.
The Registrar of Companies has not yet been provided with the most recent audited financial statements for the fiscal year 2022.
