2015-01-07

Lenskart raises Rs 135 crore in fresh capital from a group of investors

Lenskart’s Series C of fund-raising is a co-investment led by TPG Growth, with participation from TR Capital and IDG Ventures.

Lenskart raises Rs 135 crore in fresh capital from a group of investors

Lenskart, India’s fastest growing seller of prescription eyeglasses, sunglasses and contact lenses has raised Rs 135 crore in fresh capital from new and existing investors.

Lenskart’s Series C of fund-raising is a co-investment led by TPG Growth, with participation from Hong Kong based TR Capital and existing investor IDG Ventures for a significant minority stake.

The latest investment represents the company’s largest deal after February 2013, when it raised Rs 53 crore from Ronnie Screwvala led Unilazer Ventures and existing investor IDG Ventures India. The company has raised almost Rs 200 crore of capital across three rounds of fund-raising till date.

Peyush Bansal, CEO & Founder, Lenskart, commented, “In TPG, we found strategic partners and advisors with proven capability to build a large consumer centric enterprise. The TPG brand is another feather in our cap. With this new investment, we will be hiring the best talent and give them a world-class environment to innovate and solve India’s eyewear problems at a very large scale.”

Speaking about the deal, Manas Tandon, Director, TPG Growth, said, “TPG globally is an active investor in the Internet sector. We are excited about the evolution of Internet in India and are delighted to partner with Lenskart as our first investment in this space. The Lenskart team brings to the table an impressive focus on customer service and keen commercial instincts, thereby building a dominant position in the eyewear space, while maintaining attractive unit economics.”

With revenue of close to Rs 100 crore, Lenskart is continuing to grow 15 per cent month-on-month and is changing the landscape of Indian eyewear.

Related opportunities
  • Precious Jewellery
    Welcome to Vachya Jewels, a brand that specializes in crafting,..
    Locations looking for expansion Delhi
    Establishment year 2004
    Franchising Launch Date 2023
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Precious Jewellery
    Foro is a luxury jewellery brand, based and manufactured in..
    Locations looking for expansion Maharashtra
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Online Travel Services
    India’s largest and only fully-integrated Travel Solutions brand. Offers a..
    Locations looking for expansion Maharashtra
    Establishment year 1951
    Franchising Launch Date 2023
    Investment size Rs. 10lakh - 20lakh
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Drinking Water
    Packaged drinking Water is a fastest growing, with cagr of..
    Locations looking for expansion Karnataka
    Establishment year 2002
    Franchising Launch Date 2022
    Investment size Rs. 30lakh - 50lakh
    Space required 5000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater pan india Karnataka
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads