Samreen Ahmad · · 1 min readTemasek-backed eyewear firm raises funds at $4.3b valuation
Lenskart, an Indian eyewear startup, has raised US$100 million in a fresh funding round from Alpha Wave Incubation, which bumped the company’s valuation to US$4.3 billion, Entrackr reported.
The company is likely to raise additional funds in this round.
In July, the Temasek-backed unicorn raised US$220 million at a valuation of US$2.5 billion. Lenskart’s existing investors, including TPG Capital and the World Bank’s International Finance Corp, sold parts of their holdings in Lenskart.
Lenskart plans to expand its network of physical stores across Southeast Asia from 25 in 2021 to 75 this year and will also enter new markets including Indonesia and Vietnam. Last year, Lenskart launched a mobile app for eyewear in Singapore amid growing online shopping demand for eyewear.
See also: Meet the 50 top-funded startups and tech companies in India
Editing by Deepti Sri and Arpit Nayak
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