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Eyewear chain Lenskart raises US$200 million

Indian eyewear retailer Lenskart has raised $200 million from Singapore state investment firm Temasek and Fidelity Management and Research Company, according to Avendus Capital, the financial advisor of the deal.

While Avendus did not mention additional financial details in its statement on Monday, news website TechCrunch said that the deal valued SoftBank-backed Lenskart at $5 billion.

Lenskart and Fidelity did not immediately respond to a Reuters request for comment on the financial terms of the transaction, while Temasek confirmed the news but declined to comment further.

The eyewear retailer – which also counts Abu Dhabi Investment Authority as one of its investors – operates across India, Southeast Asia, and the Middle East through its website and more than 2500 stores.

Including the current deal, Lenskart has secured nearly $1 billion in capital over the past 18 months, Avendus said.

  • Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Sonia Cheema, of Reuters.
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