Lenskart raises $100 million in Series-I funding and may close the round at a valuation of $5 billion

Lenskart, an omnichannel eyewear retailer, has raised Rs 760 crore (or nearly $1 billion) in new funding round from Alpha Wave Ventures, according to regulatory filings accessed through a business intelligence platform, according to Tofler.

The company is expected to be valued at $5 billion, nearly double the $2.5 billion valuations at which the funds were raised.

Lenskart raised $315 million in funding last year, with investors including KKR, Temasek, and Alpha Wave Ventures participating. With a $231 million funding round led by SoftBankthe eyewear retailer joined the unicorn club in 2019.

Lenskart stated that its services are available through its website, mobile application, and 750+ stores in 252 cities across the country.the retailer’s next step will be to expand its online presence on international marketplaces