Lenskart raises Rs 135 cr from TPG Growth, TR Capital

The online retailer has raised almost Rs 200 cr of capital across three rounds of fund-raising till date

Lenskart, online retailer of prescription eye-wear, has raised Rs 135 crore in fresh capital from new and existing investors in its largest funding till date.

Lenskart's series-C of fund-raising was led by TPG Growth, with participation from Hong Kong-based TR Capital and existing investor, IDG Ventures, for a significant minority stake, the eye-wear retailer said.

The company had raised Rs 53 crore from Ronnie Screwvala-led Unilazer Ventures and existing investor IDG Ventures India in February 2013.

Lenskart has raised almost Rs 200 crore of capital across three rounds of fund-raising till date.

“In TPG, we found strategic partners and advisors with proven capability to build a large consumer-centric enterprise.With this new investment, we will be hiring the best talent and give them a world-class environment to innovate and solve India's eye-wear problems at a very large scale,” Lenskart founder and chief executive officer Peyush Bansal said.

With annual revenues of close to Rs 100 crore, Lenskart has registered 15 per cent month-on-month growth.

“TPG is an active investor in the internet sector. We are excited about the evolution of internet in India and delighted to partner with Lenskart as our first investment in this space,” TPG Growth Director Manas Tandon said.