Online eyewear retailer EyeMyEye secures $5 million funding led by LC Neuva AIF
- ByStartupStory | August 18, 2022
EyeMyEye, a full-stack eyewear platform one-year-old, has received Rs 39.35 crore or $5 million, led by LC Nueva AIF, a joint venture between Lighthouse Canton, with Singapore headquarters, and Nueva Capital, with Delhi headquarters, among others.
A fund with a focus on India called LC Nueva raised $40 million in its initial corpus in April of this year, raising Rs 300 crore. According to the investment firm at the time of its establishment, the investment manager and important Lighthouse Canton stakeholders contributed around 25% of the overall fund size.
The Gurugram-based company is worth approximately Rs 142 crore, or $18 million (post-money). Its valuation at the time of the most recent investment was Rs 102 crore. In the past nine months, EyeMyEye has received the money in two rounds. The business acquired Rs 20.5 crore from angel investors and a number of high net-worth people in November as part of its pre-Series A round.
According to the company’s regulatory filing with the Registrar of Companies (RoC), the board of directors approved a special resolution to allot 27,95,736 CCPS at the issue price of Rs 140.75 per share in order to raise the aforementioned amount. With an investment of Rs 18.65 crore, LC Nueva AIF led the round. Rajesh Bothra (Kobian Pte Ltd) and Lets Ventures each contributed Rs 2.75 crore and Rs 10 crore.
About EyeMyEye
EyeMyEye is an online eyeglasses company that was established in 2021 by Ganesh Iyer and Sudha Kalyan. It claims to have one million customers. It competes in the eyewear market with companies like Lenskart, Himalaya Opticals, MedPlusLens, Cool Winks, and Lens2Home, among others.
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