Lenskart eyeing $5 billion valuation, in talks with Temasek, Fidelity for $200 million infusion

Singapore’s Temasek and US’ Fidelity are in discussions to invest around $200 million in Lenskart through a secondary share sale at a valuation of about $5 billion, as per an official report. Temasek (which is already an existing investor in Lenskart) is expected to lead the investment round with $125-150 million as per reports, while Fidelity (first time invester in Lenskart) will contribute the remaining amount.

If talks go through, it will take Lenskart’s valuation to around $5 billion. This move would also place Lenskart's worth at over three times than that of its competitor Warby Parker, the report added. A New York-based online eyewear retailer, Warby Parker went public on the NYSE in 2022 with a market cap of close to $1.55 billion.

Last year, Lenskart raised a total of $600 million from investors such as Abu Dhabi Investment Authority (ADIA) and ChrysCapital, with a significant portion allocated to a secondary share sale.

Lenskart's revenue for FY24 is estimated at ₹5,500 crore, marking substantial growth from the previous fiscal year.