Chiratae Ventures, DSP India Fund, and Axis Growth Avenues AIF-I invested $39.6 million in the eyewear company Lenskart. DSP India has invested $15 million, while Chiratae Ventures and Axis Growth Avenues AIF-1 have each contributed $12.2 million.
The business offered over 1.4 million cumulative and fully convertible preference shares to investors during a shareholders’ meeting earlier this month. Due to the frothy macroeconomic environment, late-stage projects have stopped at the time of fundraising. Due to a significant rise in overall expenses, Lenskart reported a net loss of 102.3 crore in FY22 as opposed to a net profit of 29 crore the year prior, according to regulatory filings.