Eyewear brand Lenskart raised $39.6 million from Chiratae Ventures, DSP India Fund, and Axis Growth Avenues AIF-I. DSP India has pumped in $15 million, while Chiratae Ventures and Axis Growth Avenues AIF-1 has pumped in $12.2 million each.
During a shareholders’ meeting earlier this month, the company issued over 1.4 million cumulative and fully convertible preference shares to investors. The fundraising comes at a time when late-stage deals have stalled due to the frothy macroeconomic environment. According to regulatory filings, Lenskart reported a net loss of 102.3 crore in FY22, compared to a net profit of 29 crore the previous year, due to a sharp increase in total expenses.
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