With latest funding, Eyewear retailer Lenskart aims to expand to global markets

Lenskart investment is Kedaara's first bet in Indian consumer technology sector.
Lenskart

Kedaara Capital, the Mumbai-based private equity firm, has invested Rs 392 crore in eyewear retailer Lenskart. The fresh capital will be used by the company to expand to international markets such as Singapore and others.

Post this funding round, the Delhi-based company is likely to be valued at around Rs 8,200 crore. Lenskart investment is Kedaara’s first bet in Indian consumer technology sector.

The retailer has issued 61.43 lakh Series F compulsorily convertible cumulative preference shares, at a premium of Rs 636.06 per share, to Kedaara’s two entities, namely Kedaara Capital Fund-II and Mauritius-registered Kedaara Norfolk Holdings Limited.

Kedaara Capital was founded in 2011 by Manish Kejriwal, former Temasek India Head, and Sunish Sharma and Nishant Sharma, former General Atlantic senior executives. The company is focused on manufacturing, consumer, and financial services segments. It has previously backed companies such as Mahindra Logistics, AU Small Finance Bank, and apparel brand Manyavar among others.

Lenskart was founded by Peyush Bansal and Amit Chaudhary in 2008. The company sells its products through online and offline channels. Lenskart has more than 500 offline stores and is targeting to launch 150 more stores by March 2020. 

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