Lenskart subsidiary Neso Brands raises over $100M in seed round

Neso Brands, a subsidiary of Lenskart, has raised over $100 million in the seed round. The round was led by KKR, SoftBank, Alpha Wave Global, and Temasek.

Neso Brands is planning to partner and invest in consumer eyewear brands around the world and grow these brands by leveraging synergies across the Lenskart Group to increase international expansion.

Neso Brands also revealed that Bjorn Bergstrom joined the team as CEO of the company. Bjorn Bergstrom has vast experience in consumer scale-ups, venture capital, and management consulting.

Bergstrom is an experienced investor and DTC operator, having most recently served as Chief Growth Officer and interim Chief Product and Technology Officer for NA-KD, a fashion brand.

Singapore-based Neso Brands is a global eyewear company that was founded in the year 2022 to help direct-to-consumer (DTC) brands across the world. Neso Brands will enable a quicker global launch by giving the brands access to shared resources, particularly in technology, supply chain, distribution, capital, and best practices.

IPO-bound Lenskarthas recently raised $100 million from Alpha Wave Capital and was valued at $4.3 billion. The company serves over 10 million customers with a presence in 235 Indian cities and has now entered the Middle East and US markets.

EXECUTIVE OPINION:

Peyush Bansal, CEO of Lenskart, said, “With this investment in Neso Brands, we want to accelerate our mission of transforming the way people see and experience the world. Consumers want better and better every day and while people's quality of life has been uplifted through all other lifestyle products such as shoes, apparel, and wearables, eyewear products are the same old with no innovation, just more expensive. It is our firm belief that the eyewear brands of today will not be brands of the future. And Neso is our initiative to partner with founders globally to help create eyewear brands of the future.”

“Today there is a perfect storm in the eyewear industry that makes it ripe for disruption. Consumers have increasingly high demands when it comes to customer experience, branding, and choice, but incumbent players have been unable to keep up. By investing in the most promising new brands in the industry and leveraging centralized resources across technology, manufacturing, and distribution, Neso Brands will be uniquely positioned to scale the eyewear brands of the future,” added Bjorn Bergstrom.

Tags : Lenskart, StartupsDekho

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Lenskart subsidiary Neso Brands raises over $100M in seed round

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