Exclusive: Online eyewear retailer EyeMyEye raising $5 Mn

A year-old full stack eyewear platform EyeMyEye is raising Rs 39.35 crore or $5 million led by LC Nueva AIF which is a joint entity by Singapore headquartered Lighthouse Canton and Delhi-based Nueva Capital and others. 

The company’s board has passed a special resolution to allot 27,95,736 CCPS at an issue price of Rs 140.75 per share to raise the aforementioned sum, its regulatory filing with the Registrar of Companies show (RoC) shows.

LC Nueva AIF led the round with Rs 18.65 crore while Lets Ventures and Rajesh Bothra (Kobian Pte Ltd) pumped in Rs 2.75 crore and Rs 10 crore respectively.

LC Nueva is an India-focused fund which raised Rs 300 crore ($40 million) in its maiden corpus in April this year. Aabout 25% of the total fund size came from the investment manager and key stakeholders of Lighthouse Canton, said the investment firm at the time of its launch.

According to Entarckr’s estimates, the valuation of the Gurugram-based company is around Rs 142 crore or $18 million (post-money). During the last funding, it was valued at Rs 102 crore.

Founded in 2021 by Ganesh Iyer and Sudha Kalyan, EyeMyEye is an online retailer for eyewear and claims to have a  million customers. It competes with the likes of Lenskart, Himalaya Opticals, MedPlusLens, Cool Winks and Lens2Home among others in the eyewear space.

This is the second funding round for EyeMyEye in the past nine months. In November, the startup had raised Rs 20.5 crore in its pre-Series A round from angel investors and a clutch of high-net-worth individuals.