Eyewear brand Lenskart raised $39.6 million from Chiratae Ventures and others

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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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Eyewear brand Lenskart raised $39.6 million from Chiratae Ventures and others

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.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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