Avendus Capital Advises Lenskart on Its USD 220 mn Fundraise From Temasek and Falcon Edge

With this, the vision of Lenskart is to grow exponentially in the coming 3-4 years, expanding its presence in India as well as scaling its growing operations in Southeast Asia and Middle East. The company aims to leverage the deep expertise and network of Temasek and Falcon Edge in these respective geographies.

The funding comes as the brand is rapidly scaling its operations overseas, maintaining the core proposition of omni-channel experience online and offline. The market opportunity for Lenskart in these target geographies is expected to be over USD 15 billion by 2025. Along with the expansion, Lenskart is also planning to use the capital to deepen its investments in technology and AI-driven innovations to create a highly personalized experience for its customers. The company also recently set up ‘Lenskart Vision Fund’, through which its looking to invest in startups that are synergistic to eyewear, eye-care, and omnichannel retail to create a deep
ecosystem around the eyewear segment.

Lenskart was launched with a vision to revolutionize eyewear in India and now globally. Lenskart today is the largest service provider for eyewear in India, serving over 7 million customers annually through its omnichannel shopping experience, which spans online, mobile application, and 750+ omni-channel stores in 175 cities across the country. In 2019, Lenskart also expanded to Singapore – marking its foray into Southeast Asia – where it is now a key optical service provider. Lenskart integrates technology into all aspects of its operations to enhance customers’ browsing, shopping and purchasing experience, in addition to
manufacturing and supply chain optimization. Among Lenskart’s digital offerings is a virtual 3D try-on tool; AIpowered facial mapping and frame recommendation features; smart physical stores with seamless omnichannel experience; and footfall tracking beacons, heat maps and demographic analytics; and intelligent supply-chain and inventory-management solutions.