Abu Dhabi Investment Authority is set to invest $500 million in Indian eyewear startup Lenscart.

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Abu Dhabi Investment Authority’s USD 500 million acquisition of shares in Lenskart Solutions Pvt marks a major shift in the eyewear industry, especially in the current economic climate, where technology companies are facing global challenges, which has slowed investment activity and reduced valuations.

The deal, which is expected to value Lenscart at more than $4 billion, will allow the Abu Dhabi Investment Authority to buy both existing Lenscart shares and new equity.

In the year Co-founded by Peyush Bansal in 2010, Lenskart is India’s largest optical brand backed by prominent investors such as KKR & Co., SoftBank Group Corp., Temasek Holdings Pte and PremjiInvest. The company uses technology and supply chain automation to sell eyeglasses and contact lenses directly to consumers, a unique business model.

Abu Dhabi Investment Authority is set to invest $500 million in Indian eyewear startup Lenscart.
Source: ince42.com

Despite a challenging economic environment, Lenskart has grown into a profitable business, with plans for an initial public offering within the next four years, CEO Piyush Bansal revealed on Bloomberg Television in July.

The potential acquisition by the Abu Dhabi Investment Authority demonstrates the attractiveness of Lenscart’s business model and its key position in the eyewear industry. The deal will provide Lenskart with the necessary funds to expand its operations and continue to innovate in the industry, strengthening its position as a market leader.

In addition, the Abu Dhabi Investment Authority expresses confidence in Lenscart’s growth opportunities and the future of the eyewear industry despite the current economic challenges facing the technology industry.

Abu Dhabi Investment Authority to invest in Lenskart

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