Lenskart Raises Nearly $20M Led by Peyush and Neha Bansal

• Lenskart, the popular online eyewear retailer, has secured nearly $20 million in funding, led by co-founders Peyush and Neha Bansal, along with CJT Investments and TR Capital.
• The board approved the issuance of 695,875 Compulsorily Convertible Preference Shares (CCPS) at Rs 2,300 each, raising Rs 160 crore ($19.12 million).
• Peyush Bansal invested Rs 70.70 crore, Neha Bansal Rs 70.39 crore, while other co-founders Amit Choudhary and Sumeet Kapahi contributed Rs 9.60 crore and Rs 9.35 crore, respectively.
• This funding follows a $200 million secondary deal where Temasek and Fidelity Management & Research Company acquired shares, valuing Lenskart at over $5 billion.
• Lenskart plans to expand its network of 2,500 stores, with 60% of its revenue coming from India, and aims to leverage its strong financial performance and growth potential in international markets.

Source: Business Outreach