Lenskart subsidiary Neso Brands raises over $100 million

By

Maverick Martins

Published
May 17, 2022

Neso Brands, a subsidiary of eyewear retailer Lenskart has raised more than a $100 million (Rs 774 crore) in seed round from investors including KKR, SoftBank, Alpha Wave Global, and Temasek.

The company will utilise the brands to acquire stake in consumer eyewear brands around the world and international expansion.

Commenting on the funding, Peyush Bansal CEO of Lenskart in a statement said, “With this investment in Neso Brands, we want to accelerate our mission of transforming the way people see and experience the world. It is our firm belief that the eyewear brands of today will not be brands of the future. And Neso is our initiative to partner with founders globally to help create eyewear brands of the future.”

Neso Brands has also appointed Bjorn Bergstrom to the founding team as CEO who joins them from global fashion brand Na-kd.

Bjorn Bergstrom added, “Today there is a perfect storm in the eyewear industry that makes it ripe for disruption. Consumers have increasingly high demands when it comes to customer experience, branding, and choice, but incumbent players have been unable to keep up. By investing in the most promising new brands in the industry and leveraging centralised resources across technology, manufacturing and distribution, Neso Brands will be uniquely positioned to scale the eyewear brands of the future.”

Neso Brands was launched in 2022 and helps direct-to-consumer (DTC) brands across the world scale their presence in the eyewear market.