Abu Dhabi Investment Authority (ADIA) to invest $500 M in eyewear giant Lenskart
According to sources cited by Bloomberg, the national wealth fund Abu Dhabi Investment Authority (ADIA) is close to investing $500 million in Indian eyewear juggernaut Lenskart.
The report claims that the investment is already being completed. According to Bloomberg sources, the agreement, which might be disclosed as soon as this week, will increase Lenskart’s worth to more than US $4 billion.
One of the biggest optical brands in India is Lenskart, which Peyush Bansal founded in 2010. Via its automated system, it offers eyeglasses and contact lenses to consumers directly.
The US, Singapore, and the United Arab Emirates are more countries where Lenskart is present.
The firm has received support from a number of well-known investors, including KKR, Temasek, and the SoftBank Group. In June of last year, Lenskart acquired a roughly 75% share in the Japanese eyewear company Owndays.
