Singapore-based global investment company Temasek and Fidelity Management & Research Company (FMR) have closed a $200 million secondary investment in Lenskart.
With this, the company, founded by Peyush Bansal, has raised close to $1 billion in the last 18 months. According to Avendus Capital, the startup's financial advisor, this is one of the largest rounds at this growth stage anywhere in the world.
Lenskart has been valued at $5 billion post this latest funding round.
"The company has created a highly defensible business model with a robust omnichannel presence, extensive backward integration and has kept a customer-first approach throughout," said Neeraj Shrimali, MD and Co-Head of Digital and Technology Investment Banking at Avendus.
This also marks Temasek's second investment in Lenskart, while FMR is a new investor in the company.
The company now has a total of 2,500 stores, with 2,000 of them in India.
"We are excited about the Lenskart journey and of Peyush's leadership. We expect further momentum for investment interest in late-stage tech deals, driving significant value creation in the Indian consumer tech sector," said Shrimali.
Lenskart has been growing in Asia, the Middle East, and Southeast Asia, apart from its steady growth in India.
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