Lenskart, India’s fastest growing eyewear company raised $231 million from SVF II Lightbulb, a Cayman Islands-based entity which is an investment vehicle of Softbank Vision Fund (SVF). The company was founded by Peyush Bansal and Amit Chaudhary in 2008.
Lenskart has already been in discussions with SoftBank Vision Fund this year to raise a funding of $350 million at a potential valuation of $1 billion and upwards.
With these funds, the company will expand its business operations in Singapore and set up a 100% wholly-owned subsidiary, i.e. Lenskart Solutions Pte. Ltd in the Republic of Singapore to carry out its business operations.
When contacted by ET, Peyush Bansal, Co-Founder & chief executive of Lenskart, declined to comment. Avendus Capital acted as the advisor to Lenskart for the transaction.