- Lenskart secures $200M from Temasek and Fidelity, valuing the eyewear retailer at $5B.
- The investment fuels Lenskart’s Southeast Asian expansion plans.
- Anticipation builds for one of India’s most anticipated IPOs in the coming years.
Lenskart, the India-based direct-to-consumer eyewear retailer, has secured a staggering US$200 million investment from Temasek and Fidelity, catapulting the startup’s valuation to an impressive US$5 billion, according to a statement by the company’s financial advisor Avendus, as reported by TechCrunch.
Investors see eye-to-eye on Lenskart’s potential
The two investors were already in talks last month to raise the amount above through a secondary share sale, The Economic Times reported.
Temasek was expected to contribute roughly US$125 million to US$150 million, Fidelity completing the remaining amount.
This development comes on the heels of Lenskart’s previously outlined plans for further expansion in Southeast Asia, including Thailand and the Philippines.
In 2022, the startup raised US$500 million from the Abu Dhabi Investment Authority, further fueling its growth trajectory.
Anticipation builds for Lenskart’s IPO
Founded in 2010 by Peyush Bansal, Lenskart offers a wide range of eyewear products, conducting business both online and through over 2,500 stores across India, Southeast Asia, and the Middle East.
Neeraj Shrimali, managing director of digital and investment banking at Avendus, noted that this investment underscores “the excitement surrounding one of the most anticipated IPOs in India in the coming years.”
To read the original article: https://www.techinasia.com/ipobound-lenskart-nets-200m-temasek-fidelity-5b-valuation
