Business News

ADIA puts $500 million into Lenskart at valuation of $4.5 billion

Lenskart is raising a fresh $500 million in funding from Abu Dhabi Investment Authority (ADIA) at a valuation of $4. 5 billion, joining a group of startups that have managed to bag big-ticket cheques amid a slowdown.
The investment, which will be routed via a wholly owned subsidiary of ADIA, will be made via a purchase of both primary and secondary shares. A source said the funding is largely secondary in nature and a clutch of Lenskart’s early investors will sell partial stakes. “The secondary component of the deal amounts to nearly $400 million,” a source said. The investment will give ADIA an over 10% stake in Lenskart. This makes it one of the largest stakeholders of the omni-channel eyewear retailer.
The company already has Japan’s SoftBank, Premji Invest and Kedaara Capital, among others, on its cap table. The firm’s total fund count after the AIDA investment will stand at about $1. 5 billion. The funding will fuel Lenskart’s expansion plans, which has been aggressive in adding stores in India.



About Author

Leave a comment

Your email address will not be published. Required fields are marked *

You may also like

Business News Digital Transformation

IRCTC adds new buy now, pay later option: Check details

Indian Railways Catering and Tourism Corporation (IRCTC), has partnered with the CASHe to offer a Travel Now Pay Later (TNPL)
Business News

Inox Leisure Q2 reported a net loss of Rs 40.37 crore , revenue up at Rs 374.12 crore.

New Delhi: Multiplex chain operator Inox Leisure Ltd on Wednesday reported a narrowing of its consolidated net loss to Rs
Wordpress Social Share Plugin powered by Ultimatelysocial
error: Content is protected !!