Avendus Capital advises Lenskart and its shareholders as they ink an agreement to raise USD 500 mn from ADIA

It is still Day 1 at Lenskart. Vision Correction remains a big problem, and Myopia rates continue to grow rapidly, touching levels of as high as 80-90% in some parts of Asia. Hence, we are still very early in our journey and have a lot of work to do to continue to make our desired impact in this area of critical need. And ADIA, with its patient and long-term approach to investing, is a perfect partner for us as we embark on the next phase of our journey. The next phase at Lenskart is a journey of 10 to 100 where we are focusing on building a diverse culture that enables innovation and execution at scale while solving a large bottleneck hindering high quality vision for all. I hope we can continue to work hard with the same level of humility and dedication and transform the lives of a billion people eventually.

Peyush and his team are spearheading the digital disruption of the global eyewear industry, having demonstrated exceptional execution capabilities to deliver an unparalleled customer experience at every touchpoint. This sizeable investment by ADIA, amidst a challenging funding environment is a resounding validation of the company's growth potential and investors’ unwavering confidence in its capabilities. This transaction is an affirmation of our belief that capital is available for market leaders as global investors continue to back the Indian digital and tech growth story.