According to the market experts, the valuation is over 80% expansion in value terms for the company. The company was last valued at $ 2.5 billion following the close of a $315 million round in July 2021 that was led by Singapore’s Temasek. The company has also invested in the latest funding.
Among the other existing investors also include Epiq Capital and Avendus Future Leaders Fund II. So far the online platform has raised a total of around $1 billion, including secondary share sales since 2010.
In FY 21 Lenskart reported an operating revenue of over Rs 905 crore along with profits of nearly Rs 29 crore, as per regulatory filings. In a statement last week, Lenskart said it grew by 65% year-on-year in 2021 and is on track to grow by over 50% in 2022, without providing specific numbers.
On June 30, Lenskart had closed a $400 million acquisition of Japan’s Own days to create one of the largest eyewear businesses in Asia.
Sitting on a swelling valuation, the online platform also eyes global expansion. Lenskart also plans to list other eyewear brands on its platform through Neso–the recently formed subsidiary– that will invest and acquire eyewear brands globally.
According to reports, Lenskart is looking to acquire a majority in eyewear brands with a revenue in the range of anywhere between $10-$50 million and then scale it with the founding team of those brands.