• Lenskart raises INR 160 Cr from cofounders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi.
  • Peyush Bansal led the investment with INR 70.70 Cr.
  • Last month, Lenskart secured $200 million in secondary investment from Temasek and Fidelity.

Indian eyewear firm, Lenskart has secured INR 160 Cr (around $19.1 Mn) from its cofounders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi. Peyush Bansal led the investment with INR 70.70 Cr, followed by Neha Bansal with INR 70.39 Cr., Chaudhary and Kapahi contributed INR 9.60 Cr. and INR 9.35 Cr., respectively.

According to the startup’s regulatory filings, its board decided last month to issue 6.95 Lakh compulsorily convertible cumulative preference shares at INR 2,300 each to raise INR 160 Cr.

This funding round is the second time the co-founders have invested in the company within a year. In December 2023, Piyush invested INR 29.89 Cr., and Neha invested INR 29.77 Cr., along with Choudhary and Kapahi.

Last month, the eyewear Unicorn secured $200 million in secondary investment from Temasek and Fidelity Management & Research Company (FMR). Temasek increased its investment in Lenskart, while Fidelity became a new investor.

Lenskart is a major omnichannel eyewear retailer with stores in India, Singapore, the UAE, and other regions. In India alone, it has 20 million customers and over 2,000 of its 2,500+ stores.

In April, it was reported that Lenskart's revenue surged 152 percent from Rs 1,503 crore in FY22 to INR 3,788 Cr. in FY23, while net loss narrowed from INR 102 Cr. to Rs 64 Cr. during the period.

Edited by Harshajit Sarmah