Lenskart gets Rs.400 crore funding led by IFC

Eyewear e-tailer Lenskart on Wednesday said it has received Rs.400 crore Series D funding from a host of investors, led by IFC.

"IFC, a member of the World Bank Group, is investing Rs.171 crore in Indian eyewear company Lenskart to help the company expand access to high-quality and affordable eye-care products in tier-3, tier-4 cities," said a statement from Lenskart.

IFC was the lead investor for the Rs.400 crore Series D investment round which also saw participation from TPG Growth, Adveq Management and IDG Ventures. In addition, Ratan Tata and Kris Gopalakrishnan (co-founder of Infosys) invested in their personal capacity as part of this round.

Avendus Capital was the exclusive financial advisor to this transaction.

"IFC is a long-term partner with global knowledge and a broad network of Internet, technology and healthcare clients, including in the eye care space. We appreciate IFC for their support to our vision of 'Lenskart glasses in every home'," said Peyush Bansal, founder and CEO of Lenskart.

"The Lenskart investment is a part of IFC's Venture Capital group's strategy to invest in innovative Internet, Healthcare and Technology companies across emerging markets," said Pravan Malhotra, IFC's co-lead for Global Internet Investments and lead for venture capital investments in South and Southeast Asia.

--IANS

ag/pm/bg