Lenskart’s Thrasio styled venture Neso Brands raises $100 million in Seed from KKR, SoftBank
- ByStartupStory | May 17, 2022
A Singapore-based eyewear Neso Brands- a subsidiary of Lenkart has raised funds of $100M through various firms including KKR, Softbank, Alpha wave Global and Tamesk.
Lenskart is the newest entrant into India’s brand roll-up market. Neso Brands intends to build consumer eyewear brands by partnering with and investing in them throughout the world. It plans to speed worldwide expansion by using synergies throughout the Lenskart Group.
Neso says it will assist the world’s most potential direct-to-consumer (DTC) brands in becoming brands of the future. It will house these brands and provide them access to common resources, such as supply chain, technology, money, distribution, and best practices, allowing for a faster global rollout.
Bjorn Bergstrom, a consumer scale-up, venture capital, and management consulting expert, has joined the firm as CEO, according to the company. He was most recently the global fashion company NA-chief KD’s growth officer and temporary chief product and technology officer.
“The eyeglasses sector is currently experiencing a perfect storm that is ripe for change. Customers are demanding more and more in terms of customer experience, branding, and choice, yet incumbent players have been unable to meet these needs. Neso Brands will be ideally placed to develop the eyewear brands for tomorrow by financing the best potential names in the market and using centralised capabilities across production, technology, and distribution,” Bergstrom added.
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