Business

Temasek and Fidelity Invest $200M in Lenskart at $5B Valuation

Jun 3, 2024 1 min read

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Indian eyewear startup Lenskart has secured a $200 million investment from global investment firms Temasek and Fidelity, valuing the company at $5 billion. The transaction was facilitated by financial advisor Avendus. This follows a $500 million investment from the Abu Dhabi Investment Authority last year, alongside other previous investments from ChrysCapital, SoftBank, and Alpha Wave Global.

The investment by Temasek and Fidelity is part of a secondary share sale, marking Fidelity's first investment in the company. Lenskart, founded 13 years ago, manufactures its own glasses and contact lenses and holds exclusive licensing rights for various global eyewear technologies in India. The company, led by co-founder and CEO Peyush Bansal, reported a revenue of Rs 3,788 crore in FY23 with losses amounting to Rs 64 crore. Lenskart currently operates over 2,500 stores, with more than 2,000 in India.

#tech #startups #venture-capital

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