Indian retailer Lenskart has secured a US$100 million investment from private equity firm ChrysCapital, raising the eyewear company’s capital investment to approximately $850 million within the past year.
ChrysCapital’s capital infusion follows Abu Dhabi Investment Authority’s investment of $500 million in Lenskart earlier this year, which took Lenskart’s value to about $4 billion.
The Indian company said the partnership will help it further expand its presence globally with the company currently expanding across Asia and the Middle East.
“This investment aligns with ChrysCapital’s strategy of backing founders that are category creators and who leverage technology to offer an outstanding customer experience,” said Rajiv Batra, senior VP at ChrysCapital Advisors.
“At Lenskart, we like to work with partners who have a long-term vision to create organisations that can consistently improve lives and make the world a better place,” said Peyush Bansal, founder and CEO of Lenskart. “ChrysCapital is one of the most esteemed Indian equity partners, and it is my privilege to have them by our side.”
Last year, Lenskart was reported to acquire a majority stake in Japanese eyewear brand Owndays from L Catterton and Mitsui & Co, aiming to position itself as one of the largest omnichannel players in Asia.
“With the acquisition of Owndays, there is an opportunity for Lenskart to expand across more than 10 Asian countries in addition to the already large Indian market,” Batra.
