Lenskart to receive $95 million investment from KKR

Omnichannel eyewear retailer Lenskart will receive $95 million investment from private equity firm KKR & Co. The retailer’s existing investors—TPG Growth and TR Capital—will each divest a part of their stakes in the company as a part of secondary share sale.

The KKR investment will be made through the company’s Asian private equity fund. It will help Lenskart expand its operations in the Singapore, Middle East and the US markets. The investment is a part of the broader $300 million capital raising plan by Lenskart which will also attract investments from Falcon Edge and Singapore’s Temasek.

Founded in 2010, Lenskart currently has around 730 stores in 175 cities across the country. It plans to expand its business to 50 per cent of Indian consumers in the next five years, says Piyush Bansal, Co-Founder and CEO. Till date, it has raised over $459 million over nine rounds from 12 investors including Kedaara Capital and SoftBank Vision Fund II in 2019.