On Wednesday, Indian eyewear retailer Lenskart announced that it has entered a legally binding deal with Abu Dhabi Investment Authority to raise $500 million in the midst of a global recession as it prepares for overseas markets and expands its product line. The business is able to keep its $4.5 billion valuation thanks to this investment, which is an extension of last year's funding round.
As part of its investment, ADIA has secured some of the early investors of Lenskart's shares in a secondary deal.
A data analytics platform called Tracxn states that Lenskart has so far raised $1.5 billion in primary and secondary funding rounds.
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