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Lenskart Subsidiary Neso Brands Raises $100 million in Latest Funding Round

Neso Brands is a direct 2 consumer company and they have just come out to announce that they have successfully raised $ 100 million USD in their latest round of funding. This is now the largest funding a start-up based in India has ever received during the seed round. Neso Brands is a subsidiary of Lenskart an Indian optical prescription eyewear retail chain. The company is based in the capital of New Delhi and they are one of the popular eyewear makers in India with well over 600 stores in close 50 cities across the nation.

This funding was mostly contributed by KKR, and SoftBank. Other investors included Alpha Wave Global as well as Temasek Holdings.

LENSKART by Moneycontrol

This record shattering news comes just a month after the parent company, Lenskart raised $ 100 million USD in a round led by the same investors and fund management companies.

Prior to Neso Brands record, the titles of the largest investments in the seed round were held by 10club which is also a direct 2 consumer company. They raised a massive $ 40 million USD which is not even half of what Neso Brands were able to inject in to their company.

The chief executive officer of Lenskart Mr. Peyush Bansal announced that they will be looking to commence their expansion internationally and even start their acquisition of other smaller companies so they can synergize and grow together and help all parties involved.

The head office of their subsidiary, Neso Brand is located in Singapore and they plan to partner up, collaborate, and work with other eye wear and optometry product producers, manufacturers, and sellers around the world and grow simultaneously with them as they help Lenskart grow internationally and be one of the biggest players in the eye wear field in the world for years to come.

Bjorn Bergstrom is a man who is a veteran in scaling up businesses and helping them phase out of the seed round and in to a full-fledged start-up company in its operational phase. He has been appointed as the chief executive officer of the Singaporean start-up.

He previously was with NA-KD which is a Swedish based Women’s only clothing and fashion company. He was their Chief Growth Officer and interim Chief Product & Technology Officer and had a very fruitful stint with them.

A lot of promise and trust has been placed with these eye wear companies and only time will tell if their efforts turn to gold.

 

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