Get All Access for $5/mo

Lenskart May Soon Enter the Unicorn Club with Investment from Kedaara The homegrown PE firm will reportedly invest for the first time in the consumer internet space through this deal

By Bhavya Kaushal

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pngkey.com

Lenskart is reportedly set to enter the unicorn club with an investment round from private equity firm Kedaara capital, according to ET. The deal will, apparently, push the company's valuation to $1 billion. The report also says existing investors including PremjiInvest and Chiratae Ventures will partially give up their stake.

The homegrown PE firm will reportedly invest for the first time in the consumer internet space.

Lenskart was founded in 2008 by Peeyush Bansal and Amit Chaudhary. Over the years it has battled slow growth, stagnation and losses and today, it is on the brink of becoming a unicorn.

SoftBank's Stake

It was also reported that Japanese conglomerate SoftBank was also planning to invest in Lenskart. Masayoshi Son led telecom giant which has a sterling reputation among investors is obsessed with technology and the majority of its investments have gone into tech startups itself. One doesn't see any reason why Softbank which is backing almost all unicorns in India including Paytm, Zomato, Byju, Udaan, Swiggy, would back an upcoming too. In May, it was widely being reported that the next round of funding that will push the eye-glasses company into the coveted unicorn club will come from SoftBank.

Lenskart currently valued at US$400-$450 million has the backing of the likes of Ratan Tata, Steadview Capital, TR Capital, IDG Ventures, TPG Growth etc.

A Bumpy Ride

After incurring losses and slow growth, the firm rose up like a phoenix especially after it got the backing of Ratan Tata. The investment for that deal might be small but having the mentorship of the business scion helped Lenskart rise up like a phoenix by focusing on its sales and marketing. It also broke into the brick-and-mortar format soon after, a move that gave it a considerable rise. The tech focus company that delivers an omnichannel experience to consumers has also been planning to setup a store in tier III and IV cities where putting up an offline store.

Bhavya Kaushal

Former Features Writer

I am a work-in-progress writer and human being. An English graduate from Delhi University, writing is my passion and currently, I was Entrepreneur India's start-up reporter. I love covering start-ups and weaving their stories into unforgettable tales with the power of ink! 
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.

News and Trends

Aadhaar-Driven Financial Inclusion: Catalyzing Regional Economic Growth in Rural India

The emergence of digital tools such as the Aadhaar-enabled Payment System (AePS), which uses the biometric-based Aadhaar identity system for cash transfers and regular banking tasks, has become a tool to bridge the gap and improve financial inclusion

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Living

70% of Small Business Owners Experience Monthly Burnout. Follow These 3 Rules to Avoid the Same Fate.

Here are three guidelines to help entrepreneurs achieve balance, growth and success in both their professional and personal endeavors.