Lenskart Set to Go Public, Aims for Smart Glasses with AI and XR
Lenskart, a leading eyewear retailer, is set to go public. The company, which recently converted to a public limited entity, is preparing for an Initial Public Offering (IPO). Details about the timing and valuation are yet to be disclosed.
Lenskart's IPO plans come as it aims to expand into smart glasses. The company aims to create functional, lifestyle-friendly, and accessible smart glasses for a broader demographic. To achieve this, Lenskart has invested in Ajna Lens, a deeptech startup specialising in AI-powered extended reality (XR) glasses.
Ajna Lens caters to enterprise, education, and defense sectors, bridging physical and digital environments. Lenskart plans to contribute its frame design and engineering capabilities to develop consumer-grade smart glasses with AI and XR technologies. This strategic move follows Lenskart's launch of Phonic audio glasses in December 2024.
Lenskart's IPO is expected to value the company at $10 billion, double its valuation in a $200 million secondary round last year. The company's investment in Ajna Lens is part of its strategy to build next-generation smart eyewear, leveraging its extensive retail network of over 2,500 stores across India and Southeast Asia, which produces 25 million frames and 30 to 40 million lenses annually.
