Omnichannel eyewear store Lenskart has raised Rs 760 crore (or almost 1$00 million) in a new investment round from Alpha Wave Ventures. The regulatory filings were accessed from the enterprise intelligence platform, Tofler indicated. The filings said that this became Series-I funding with the issuance of 36,41,646 collection stocks at Rs 2087.52 in keeping with the percentage to raise Rs 760 crore.
Sources about the company's fundraising plans have advised BT that Lenskart is likewise trying to near the cutting-edge spherical with a $200-250 million corpus beforehand of its deliberate IPO, which can see a few current buyers additionally participating. A source stated, “Yes, they may announce a bigger Series-I fundraise round quickly with Alpha Wave ventures after the current one,”.
The company's valuation is anticipated to be $5 billion, nearly double the $2.5 billion valuations at which the finances had been raised.
Last year, Lenskart raised $315 million, an investment spherical which noticed the participation of buyers which include KKR, Temasek, and Alpha Wave Ventures. The eyewear store entered its unicorn membership in 2019 with a SoftBank-led $231 million investment spherical.
A Lenskart spokesperson in the meantime declined to remark whilst BT reached out to the employer.
The Piyush Bansal-led unicorn has a hold of manufacturers beneath its portfolio, which include John Jacobs, Lenskart Blu, Vincent Chase, Hooper, Fossil, and Aqua lens. Recently the brand introduced tie-ups with main online marketplaces that include Tata Cliq, Nykaa, and Myntra. It is making plans for an omnichannel presence via online channels and brick-and-mortar shops too.
Lenskart had stated in a current announcement that its offerings span over its website, cellular application, and 750+ shops in 252 towns throughout the country. The brand's subsequent step will increase its online presence on global marketplaces like Noon in UAE & Amazon in keeping with an advance professional announcement.