Lenscart is valued at 2.5 2.5 billion after Temesc and Falcon Edge Capital – TechCrunch invested 2 220 million.
Temac and Falcon Edge Capital have invested 2 220 million in Indian Omni Channel’s eye-catching retailer Lenscart, bringing the value of the Bangalore-based startup to 2.5 2.5 billion.
The new investment, which includes both primary and secondary transactions, is part of a new era that Lanskart faced a month ago when it raised 95 95 million from the global investment fund KKR. Bay Capital and Chirata also participated in the new era.
Pius Bansal, founder and chief executive of Lenscart, said the lucrative startup – which sells online glasses and contact lenses and sells through about 7,750 physical retail stores across the country – sold eye drops products in an epidemic year I have seen an increase.
The startup, which counts Softbank among its investors, sold about 88 million pairs last year.
Now the firm, which claims to lead the market in India, plans to expand its operations in Southeast Asia and the Middle East. The startup, citing its estimates, said the combined market opportunity for eyeballs in these regions would be about 15 15 billion by 2025.
We are already the biggest players in India and the top 3 in Singapore. He said Lanskart aims to cover 50 per cent of India in the next five years and become the # 1 eye-catching platform in Southeast Asia and the Middle East through organic and inorganic expansion in the next 18 to 24 months. Will
According to industry estimates, more than half a billion people in India suffer from poor vision and need glasses, but only 170 million of them have chosen to correct their vision.
The firm also plans to raise some capital to expand its technology stack to create a more personalized experience for its customers. The startup, which recently launched the Lancecart Vision Fund, has said it wants to invest in other smaller companies operating in the eyewear, iCare and Omni Channel retail outlets.
Nowruz Udodia, co-founder and partner at Falcon Edge Capital, said: “We are thrilled to have Piyush and his team on this journey and to work with Lanskart’s team to help grow our business internationally. Waiting. ” In a statement
The new investment comes at a time when Indian capital is generating record capital and a handful of adult companies have begun exploring public markets. Zunoto last week raised 1. 1.3 billion in the first consumer tech IPO in a decade in the South Asian market.
With the launch of digital payments by PTM, its rival MobyWick also filed for an IPO last week.