ChrysCapital led $100 M funding received by eyewear firm Lenskart
Summary
With the help of primary and secondary share purchases, Lenskart, a multi-channel eyewear company, has acquired $100 million from ChrysCapital. The business is also growing internationally, into Asia and the Middle East.With a new plant recently starting operations, the company is gradually moving a sizable portion of its manufacturing to India. One of the top direct-to-consumer eyewear brands in Japan, Singapore, and other South-East Asian markets is Owndays, a subsidiary of the company. The majority shareholders of Owndays, L Catterton Asia and Mitsui & Co., Principal Investments, sold their shares to Lenskart as part of the agreement. Neso Brands, another subsidiary of Lenskart, raised $100 million in a seed round led by KKR, Softbank, Alpha Wave Global, and Temasek during the same time period.One of the few unicorns, Lenskart, experienced losses in FY22.