Lenskart raises $100 million in a new round from Alpha Wave Ventures
Eyewear brand Lenskart has secured $100 million (Rs 760 crore) in a new round from Alpha Wave Ventures according to regulatory filings by the company.
Lenskart Solutions Pvt Ltd has approved a special resolution to approve 36,41,646 Series I shares at an issue price of Rs 2087.52 per share by Alpha Wave Ventures to raise Rs 760 crore, according to filings with the Registrar of Companies (RoC) viewed and reported by Entrackr.
The latest fundraise is expected to take the company’s valuation to $4 billion from previous year’s $2.5 billion at which it had raised $95 million in a funding led by private equity firm KKR & CO Inc.
Lenskart plans to expand its brick-and-mortar stores by open stores across the country over the next few months. The business also aims to expand with an omni-channel approach as it also retails from its e-commerce store.
Recently, Lenskart had announced the expansion of its online presence by offering its products on Nykaa, Myntra, Tata Cliq and other platforms.
The eyewear retailer was founded in 2008 by Peyush Bansal, Amit Chaudhary, Neha Bansal and Sumeet Kapahi.
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