Lenskart secures ₹392 cr from Kedaara Capital; plans to expand to global market

lenskart

Lenskart, an eyewear solutions startups, has secured ₹392 crore from Kedaara Capital.

With this capital, Lenskart plans to expand to international markets like Singapore and others.

According to sources, Lenskart has issued 61.43 lakh Series F compulsorily convertible cumulative preference shares, at a premium of Rs 636.06 per share, to Kedaara’s two entities.

Lenskart was founded by Peyush Bansal in 2008. The company is India’s fastest growing eyewear company and largest eyewear company online, as per its website.

Lenskart’s products range from prescription eyewear, branded contact lenses and sunglasses, all equipped with the customers’​ eye power.

Kedaara Capital, on the other hand, was founded by Manish Kejriwal, Sunish Sharma and Nishant Sharma in 2011.

Kedaara Capital focused on manufacturing, consumer, and financial services segments, has previously backed companies like Mahindra Logistics, AU Small Finance Bank, and apparel brand Manyavar among others.

Some of the significant startups under the similar roof include GKB opticals, coolwinks.com, specsmakers, deals4opticals, lensbazaar, and many more.

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