Avendus Capital advises Lenskart, TPG Growth and TR Capital on USD 95 mn investment from KKR

At Lenskart, we are obsessed with our customers, technology, and making world a better place through easily accessible, best-quality eyewear. More than 600 million people in India and 4.5 billion people globally need vision correction, but only a fraction of them use it due to a lack of access, awareness, and high-quality, affordable solutions. Lenskart was founded to address this gap by leveraging technology to make eyewear accessible to everyone – first in India, and now worldwide. We are also working on the larger human agenda of improving people’s quality of life by allowing them to ‘Be More and Do More’ with their eyewear through our innovative products such as Lenskart Airflex, Elock, Neuro-science lenses, and Lenskart BLU.

I feel we are still scratching the surface and have a lot of work to do over next 10 years in India and globally,

In the next five years, we aspire to have 50% of India wearing our specs. Today’s announcement is a milestone and a step towards that goal. We are thrilled to welcome KKR as an investor given their significant experience working with leading global eyewear retailers such as National Vision and 1- 800 Contacts as well as technology-focused businesses globally. We look forward to working alongside KKR to elevate Lenskart to its next phase of growth.

Lenskart is leading the charge in digital disruption in the global eyewear ecosystem. The founding team’s passion to create impact at a global level, along with their tech and data-led DNA has helped them reach unprecedented leadership and scale. The team has demonstrated exceptional execution, backed by their deep understanding of supply chain, a unique omni-channel model, and their ability to leverage technology at every touchpoint to provide unparalleled customer experience. Vertical commerce and digital-native brands hold great promise in unique markets that lag when it comes to brand penetration, distribution reach, and availability of high-quality products at affordable prices.