Lenskart Raises Nearly $20M Led by Peyush and Neha Bansal

The popular online eyewear retailer, Lenskart, has reported to have sealed nearly $20 million in funding, which was led by realty developers CJT Investments and TR Capital.

[{"selector":"#anim-d8be419f-01e2-473b-8e71-3f81d4f37193 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-0b009540-44e0-4f65-bb9f-e0d4ed09e145","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a6da4790-76bd-44c2-b7a3-5377e7248d2d","keyframes":{"transform":["translate3d(0px, 134.63290%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

In fact, the leading investment was by the company’s own co-founders, Peyush Bansal and Neha Bansal.

[{"selector":"#anim-dd860d02-c7c1-42e6-8393-1e342f81c51b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0341c3d4-7086-439f-b309-7af5b0c5b9ca","keyframes":{"transform":["translate3d(0px, 231.17011%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-54459d74-93b0-4619-babb-8ac0cbca2534 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(14.442567772559553%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The board at Lenskart has gone on to agree to okay special resolution for issuance of 695,875 Compulsorily Convertible Preference Shares (CCPS) at an issue price of Rs 2,300 apiece.

[{"selector":"#anim-d8e7bb87-afbd-488f-935c-3c977ed3d9b5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-2.6206608140199705%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-ec3c4fd6-5010-4a19-89cf-b824292fd506","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-71b59c9d-e6ea-4c9b-9341-ebe8edff0a06","keyframes":{"transform":["translate3d(0px, 136.79506%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The cofounders of Lenskart had infused capital worth Rs 29.89 crore each respectively at the round ending on 7th February, dated 19th February 2024, apart from investments made by Choudhary and Kapahi.

[{"selector":"#anim-193bd552-6ad2-470f-a53b-a18de92f2e7e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-14.632601559040609%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-6627c86c-024a-4d5d-8897-d7932881c99e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-afcbc2c6-bbb9-4a6a-9f98-ae0b96e2dc7f","keyframes":{"transform":["translate3d(0px, 143.83026%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

In this transaction, Temasek and Fidelity Management & Research Company (FMR) acquired shares from the promoter Orion India Systems at a valuation of more than $5 Bn.

[{"selector":"#anim-2968da1e-9dc3-4085-9867-89138c95c768 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(16.859308025570357%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-7718ce18-2a75-41e3-afce-7fe95d5d583c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5ad3c499-09eb-4d62-bbb5-4aca94e4a5ba","keyframes":{"transform":["translate3d(0px, 148.35287%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Quadruplicate its presence: within the country and outside with Lenskart boasting a network of 2500 stores with more than 2000 stores in India alone.

[{"selector":"#anim-c8545674-787a-46d4-9cd6-0ca36edddf8a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-16.15287185088897%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-b357515e-5706-455d-aa02-06d7055f1bb8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cec9e640-9591-4163-a6cb-7b2db3834994","keyframes":{"transform":["translate3d(0px, 166.21184%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]