ADIA invests $500 million in Lenskart

Lenskart has signed a definitive agreement to raise $500 million from the Abu Dhabi Investment Authority, they said Wednesday, at the height of the market slump as the Indian eyewear retailer bulks up its offerings and scales to international markets.

The investment, an extension to last year’s round, helps the startup retain its $4.5 billion valuation. ADIA’s investment includes some secondary purchase of shares from some early backers of Lenskart, the startup said. According to data intelligence platform Tracxn, Lenskart has raised $1.5 billion to date in primary and secondary raises.