SoftBank invests $275M in Lenskart

Dec. 20, 2019 7:22 AM ETSFTBF, SFTBYBy: Brandy Betz, SA News Editor

SoftBank (OTCPK:SFTBF,OTCPK:SFTBY) Vision Fund will invest $275M in Indian eyewear retailer Lenskart at an over $1.5B valuation, according to TechCrunch.
As part of the financing round, certain existing Lenskart investors are selling their stake.
Lenskart has a presence in over 500 stores across more than 100 cities in India, but online sales account for more than 60% of revenue.
The new funds will help improve the startup's tech infrastructure and supply chain.