Lenskart raises $200 million, co valued at about $5 billion


MUMBAI: Lenskart has raised $200 million from Temasek and Fidelity Management & Research in a secondary funding, the startup’s monetary advisor Avendus Capital stated in a press release on Monday.
Sources stated that the transaction has valued the omni-channel eyewear retailer at about $5 billion. Lenskart was final valued at $4.5 billion. As a part of the secondary deal, a few of the agency’s early traders have bought a portion of their stakes to Temasek and Fidelity.In a secondary transaction, an organization’s shares change arms amongst traders and no funds are added to the agency’s coffers. Avendus didn’t disclose the names of the promoting shareholders.
With this funding, Fidelity has joined Lenskart’s cap desk. Temasek is already an present investor within the firm with a 5.5% stake, information sourced from market analysis agency Tracxn confirmed. The newest transaction won’t considerably add to Temasek’s shareholding, sources stated. Following this transaction, Lenskart has raised near $1 billion in capital over the past 18 months, making it one of many largest growth-stage financing globally, Avendus stated. Lenskart didn’t reply to queries.
Last 12 months, the startup had raised $600 million from traders in two tranches by means of a mixture of main and secondary transactions at a valuation of $4.5 billion. Abu Dhabi Investment Authority (ADIA) had pumped in $500 million into Lenskart in a financing which was largely secondary in nature and as a part of which SoftBank had divested a few of its shareholding within the firm ($60 million value of shares, sources stated). Private fairness agency ChrysCapital had infused the remaining $100 million in a mixture of main and secondary funding. Lenskart is amongst a batch of only a few late-stage startups which has managed to draw investor curiosity amid nonetheless subdued deal exercise within the late-stage phase. SoftBank stays the most important investor in Lenskart with a 16.5% stake. Lenskart has been increasing its presence in India whereas additionally quickly scaling its footprint in Asia and the Middle East.

Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


Please enter your comment!
Please enter your name here

Share post:



More like this

Predicted playing XIs, live streaming particulars, weather and pitch report

Check out the live streaming particulars for match...

Philippines “Galwan” Moment as China escalates tensions in South China Sea

On June 19, the Chinese forces obstructed Philippine...

UK’s richest family Hindujas get over 4 years in jail for exploiting…

The Hindujas had been acquitted of human trafficking,...