Chiratae Ventures, DSP India Fund, and Axis Growth Avenues AIF-I invest $39.6 million in Lenskart. In 2022, it is the brand’s fifth round of funding. During the shareholder meeting earlier this month, the company issued over 1.4 million cumulative and fully convertible preference shares to investors.
According to reports, DSP India invested $15 million, while Chiratae Ventures and Axis Growth Avenues AIF-I each contributed $12.2 million. The fundraising comes at a time when late-stage deals have stalled due to an uncertain macroeconomic environment. In addition, Lenskart reported a net loss of 102.3 crores in FY22, compared to a net profit of Rs 29 crores the previous year.
Lenskart raised $100 million in April of this year from Alpha Wave Ventures, just nine months after raising $315 million at a valuation of $2.5 billion. In the same month, it raised $24.7 million from existing investor Epiq Capital. In the months that followed, it raised $25 million and $12.5 million in two separate rounds.
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