Eyewear brand Lenskart announced on Friday that it has invested an undisclosed amount in AjnaLens, a tech company based in Mumbai that makes smart XR (extended reality) glasses using artificial intelligence (AI).
The company said in a press release that it will use its expertise in designing and building frames to help develop smart glasses.
Peyush Bansal, Co-Founder & CEO, said, “We have been leveraging technology to create distinctive and meaningful eyewear experiences for our customers. This investment marks the next chapter in our smart glass journey, which began with the launch of Phonic, our audio glasses, in December 2024. As the Smart Glasses category scales rapidly, our partnership with Ajna Lens strategically positions us to accelerate product innovation in this space.”
AjnaLens was co-founded in 2015 by Pankaj Raut, Abhijit Patil, and Abhishek Tomar. It is a deep-tech startup that creates advanced technology using spatial computing, AI vision, and an XR (extended reality) platform. The company aims to boost human abilities with these tools and works with industries like defense, education, and business.
AjnaLens aims to link the real and digital worlds, making it easier and more natural for people to interact with digital content.
Lenskart’s investment in AjnaLens comes as the company gets ready to go public. On June 6, it became a public limited company, bringing it one step closer to its planned IPO.
The eyewear company is aiming for a $1 billion IPO and hopes to be valued at around $10 billion—twice as much as in its last funding round.
Backed by SoftBank, Lenskart raised $200 million in a secondary funding round last June, reaching a $5 billion valuation. Investors included Temasek and Fidelity. A month later, founders Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi together invested nearly $20 million more.
Lenskart produces approximately 25 million frames and 30–40 million lenses annually. It runs over 2,500 stores across India and Southeast Asia and also has a strong online presence.
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