As a part of Lenskart’s recent fund raising efforts, the company is looking to raise Rs.400 crores, approx., an article said. The funding will be used to grow the company’s distribution network across tier II and III cities using their offline franchise network.
Ratan Tata, is believed to have invested in Lenskart Solutions Pvt. Ltd. A news piece in Mint reported. The report goes on to point out, that the amount of his investment is minimal, in tandem with his investment ideologies. An earlier report by Mint in Oct’15, cited that he made an investment amount of Rs.10 lakhs.
Tata has invested in various groups such as Ola, Zivame etc. Post this funding, Lenskart solutions will be valued at Rs. 1,600 crore. The report cites that International Finance Corp. (IFC) is the leading investor and discussions are ongoing with them.
Lenskart, till date has raised about $36 million since it was incorporated in 2008.