Lenskart Bags $200 mn Investment from Temasek and Fidelity

TFW Bureau
TFW Bureau Jun 03, 2024 - 1 min read
Lenskart Bags $200 mn Investment from Temasek and Fidelity image
Singapore's Temasek and Fidelity, a US-based investment firm, have joined forces to inject approximately $200 million into Lenskart, a prominent player in the eyewear industry, through a secondary share sale.

 This significant investment comes on the heels of advanced discussions valuing Lenskart at an impressive $5 billion.

Interestingly, Temasek isn't a newcomer to Lenskart; the Singaporean investment giant already holds a 5.5 percent stake in the startup. With Temasek reportedly leading this new funding round, it underscores the confidence the company has in Lenskart's growth trajectory. On the other hand, Fidelity's decision to invest marks its first foray into Lenskart's journey, signaling its belief in the company's potential.

Lenskart's fundraising journey has been noteworthy. In the previous year, under the leadership of Piyush Bansal, the company secured a substantial $600 million. This funding round included a massive $500 million investment from the Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund, and an additional $100 million from PE fund ChrysCapital. The infusion of capital, through a mix of primary and secondary shares, highlighted the trust and interest from both global investors and industry players.

Despite challenges posed by market dynamics, Lenskart continues to demonstrate robust financial performance. In the fiscal year 2023, the company reported an impressive revenue of Rs 3,788 crore. However, like many businesses navigating growth and expansion, Lenskart recorded losses amounting to Rs 64 crore for the year.

As Lenskart forges ahead with this fresh injection of capital, it positions itself for further innovation, expansion, and market penetration. The backing from renowned investors like Temasek and Fidelity underscores not just Lenskart's potential, but also the confidence in its ability to lead and disrupt the eyewear industry.


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