NEW DELHI & MUMBAI, India—Omnichannel eyewear brand, Lenskart, raised $220 million funding from Temasek and Falcon Edge Capital. Other investors including Bay Capital and Chiratae Ventures also participated in this round. The move was reported by TechCrunch and Bloomberg, among other media outlets. Last month, as VMail reported, Lenskart received $95 million from KKR. In December 2019, Lenskart said that it raised $275 million in a new financing round from SoftBank Vision Fund as it looks to expand its business in the nation.
Founded in 2010, the company has raised a total capital of $774.6 million across 11 rounds until now. Peyush Bansal, Lenskart's founder and CEO, told TechCrunch that the latest investments value the company at $2.5 billion and noted that the company has seen a surge in sales of eyewear products in the pandemic year.
Established in 2010, today the company is the largest service provider for eyewear in India, serving over 7 million customers annually through its omni-channel shopping experience, which spans online, mobile application, and 730 omni-channel stores in 175 cities across the country. In 2019, Lenskart also expanded to Singapore–marking its foray into Southeast Asia–where it is now a key service provider for optical.
Bansal spoke about Lenskart's approach to the eyewear and eyecare business in India at the 2016 Vision Monday Global Leadership Summit.