Softbank Vision Fund in advance talks with Dailyhunt, Lenskart to invest

Must Read

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. https://twitter.com/ANI/status/1168037199767457792 Former Union Minister Kalraj...

NRC list for Assam released; Fear looms as 19 lakh people face exclusion

NRC (National Register of Citizens) for Assam has been published at 10 am today. The final list excludes over...

Lateral Entry Era Begins as Union govt. appoints 9 professionals to Joint Secretary posts

The government has appointed its first batch of private professionals to the post of Joint Secretary in various ministries....

After placing a bouquet of investments into number of Indian startups such as Ola, OYO, Hike, Paytm, Delhivery, and many more, the Japan-based SoftBank Vision Fund (SVF), is reportedly, holding advance talks with Lenskart and Dailyhunt to complete a monetary deal.

It is expected that Lenskart would get a funding of around $400 million, while Dailyhunt would raise $150 million as a part of a bigger round, reportedly Inc42. 

Lenskart plans to use this new funding for global expansion.

Dailyhunt will get funding from SoftBank, along with an investment of $100 million with another private equity major Carlyle.

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.

Whereas, Dailyhunt was launched by Umesh Kulkarni and Chandrashekhar Sohoni in 2009. The platform was acquired by Verse in 2012. It is a Bengaluru-based news and ebooks mobile platform.

Adding on, Japan-based Soft Bank Group, is known for its leadership by founder Masayoshi Son. It, now, owns operations in broadband, fixed-line telecommunications, e-commerce, internet, technology services, finance, media and marketing, semiconductor design, and other businesses.

The SVF said in its annual earnings call that it has witnessed an 80% year-on-year (YoY) growth in operating income in the financial year 2019. It has attributed this growth to its investments in the Indian market and startups.

According to the new speculations, the SVF is seeking for companies with excellent path of profitability. Lenskart has seen revenue growth of 84 per cent to ₹292 crore, the losses to have cut almost 50 per cent to ₹118 crore in the 2017-18 financial year.

Dailyhunt, on the other hand, has 188 monthly active users, posts 2.5 lakh post every day across 14 languages from 1,000 publishers.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

R&D centre for clean coal unveiled in Bengaluru

Bengaluru, Sep 16 (IANS) Union Minister of Science and Technology Harsh Vardhan on Monday opened the national centre for...

RBI expands BBPS coverage to all categories

Mumbai, Sep 16 (IANS) The Reserve Bank of India on Monday expanded the Bharat Bill Payment System coverage to included all categories of billers,...

Wanted criminal held in Narela murder case

New Delhi, Sep 16 (IANS) With the arrest of 25-year-old history-sheeter, the Delhi Police claimed to have solved the Virender Maan murder case, who...

GM, TCS launch partnership for global vehicle engineering

New Delhi, Sep 16 (IANS) Automobile manufacturer General Motors and IT major Tata Consultancy Services on Monday entered into a partnership for future global...

Italy resuming a central role in Europe: EU Commissioner

Rome, Sep 16 (IANS/AKI) With its new left-leaning government, Italy, a founder member of the European Union, and the eurozone's third largest economy, is...
- Advertisement -

More Articles Like This