Lenskart raises $39.6 million from Chiratae Ventures, DSP India Fund and Axis Growth Avenues AIF-I. It is the brand’s fifth round of funding in 2022. The company has issued over 1.4 million cumulative and fully convertible preference shares to the investors in the shareholder's meeting held earlier this month.
According to the reports DSP India has pumped in $15 million, while Chiratae ventures and Axis Growth Avenues AIF-I has pumped in $12.2 million each. The fundraising comes at a time when late-stage deals have come to a standstill as the macroeconomic environment seems unstable. Lenskart also reported a net loss of ₹102.3 crores in FY22 compared to a net profit of ₹29 crores last year.
Lenskart raised $100 million from Alpha Wave Ventures in April this year, just nine months after raising $315 million at a valuation of $2.5 billion. It also raised $24.7 million in the same month from existing investor Epiq Capital. It then raised $25 million and $12.5 million in two separate rounds in the following months.