{"id":1333122,"date":"2024-06-03T14:31:31","date_gmt":"2024-06-03T13:31:31","guid":{"rendered":"https:\/\/www.businesstelegraph.co.uk\/lenskart-200m-secondary-deal-swiggys-valuation-%e2%ac%86%ef%b8%8f%e2%ac%86%ef%b8%8f\/"},"modified":"2024-06-03T14:31:31","modified_gmt":"2024-06-03T13:31:31","slug":"lenskart-200m-secondary-deal-swiggys-valuation-%e2%ac%86%ef%b8%8f%e2%ac%86%ef%b8%8f","status":"publish","type":"post","link":"https:\/\/www.businesstelegraph.co.uk\/lenskart-200m-secondary-deal-swiggys-valuation-%e2%ac%86%ef%b8%8f%e2%ac%86%ef%b8%8f\/","title":{"rendered":"Lenskart $200M secondary deal; Swiggy\u2019s valuation \u2b06\ufe0f\u2b06\ufe0f"},"content":{"rendered":"<p> <script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- newscabal uk text -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:inline-block;width:728px;height:90px\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"3688094655\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>Singapore&#8217;s Temasek and US-based Fidelity have invested $200 million in Lenskart through a secondary share sale. This and more in today\u2019s ETtech Top 5.<\/p>\n<p><span class=\"subHead\">Also in this letter:<\/span><br \/>\u25a0 Pakistan-based hackers step up attacks<br \/>\u25a0 ETtech Done Deals<br \/>\u25a0 Zerodha faces technical glitch<\/p>\n<hr style=\"border-bottom: solid 1px #979797; margin: 20px 0 14px;\" data-attr-sectionload=\"jsSectionLad_1\"\/>\n<p>Temasek, Fidelity pump $200 million in Lenskart secondary deal at $5 billion valuation<\/p>\n<p>         <\/p>\n<div class=\"imageHolder\"><img decoding=\"async\" class=\"artimg\" align=\"center\" style=\"width:100%;\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2024\/06\/Lenskart-200M-secondary-deal-Swiggys-valuation.jpg\" alt=\"Peyush BansalLenskart Temasek Fidelity funding THUMB IMAGE ETTECH\" title=\"Peyush BansalLenskart Temasek Fidelity funding THUMB IMAGE ETTECH\"\/><\/div>\n<p><em>Peyush Bansal, CEO, Lenskart<\/em><\/p>\n<p>Singapore government\u2019s sovereign fund Temasek and US financial services major Fidelity have together <a href=\"https:\/\/economictimes.indiatimes.com\/tech\/funding\/temasek-fidelity-pump-200-million-to-buy-lenskart-stake-in-secondary-deal\/articleshow\/110659516.cms\">invested $200 million in Lenskart through a secondary share sale<\/a>.<\/p>\n<p><span class=\"subHead\">Deal details<\/span>: The deal has valued Lenskart at $5 billion, up from $4.5 billion in its last round of funding, the company said,<a href=\"https:\/\/economictimes.indiatimes.com\/tech\/funding\/temasek-fidelity-may-invest-200-million-in-lenskart-at-5-billion-valuation\/articleshow\/109572374.cms\"> confirming our news break from April 25.<\/a><\/p>\n<p>Early investors in Lenskart such as TR Capital, Avendus and others are believed to have sold a portion of their holdings. SoftBank \u2014 the largest institutional investor, with 16.5% \u2014 has not sold any stake in this round.<\/p>\n<p><span class=\"subHead\">Why it matters:<\/span> This is among the largest secondary share sales at a late-stage startup this year. <\/p>\n<p>Secondary transactions typically occur at a lower price to the last primary funding valuation. However, in Lenskart\u2019s case, it was at a premium \u2013 underscoring growing investor interest in fast-growing companies with a path to profitability.<\/p>\n<p>In a secondary share sale, money changes hands between investors and does not go to the company coffers.<\/p>\n<div class=\"imageHolder\"><img decoding=\"async\" class=\"artimg\" align=\"center\" style=\"width:100%;\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2024\/06\/1717422858_554_Lenskart-200M-secondary-deal-Swiggys-valuation.jpg\" alt=\"Lenskart Financials Apr 2024 Graphic ETTECH\" title=\"Lenskart Financials Apr 2024 Graphic ETTECH\"\/><\/div>\n<p><span class=\"subHead\">Scorecard:<\/span> In FY23, the omnichannel eyewear retailer saw its consolidated operating revenue more than double to Rs 3,788 crore, from Rs 1,502 crore a year earlier. The company also reduced its losses to Rs 64 crore, from Rs 102 crore in FY22.<\/p>\n<p><span class=\"subHead\">Also read |<\/span> <a href=\"https:\/\/economictimes.indiatimes.com\/tech\/startups\/venture-investors-push-for-partial-exits-or-secondary-deals\/articleshow\/108656159.cms\">VCs looking for partial exits, investors eyeing IPO-bound firms push up secondary deals<\/a><\/p>\n<hr style=\"border-bottom: solid 1px #979797; margin: 20px 0 14px;\" data-attr-sectionload=\"jsSectionLad_2\"\/>\n<p>Baron Capital marks up Swiggy valuation by 25% to $15.1 billion<\/p>\n<p>           <\/p>\n<div class=\"imageHolder\"><img decoding=\"async\" class=\"artimg\" align=\"center\" style=\"width:100%;\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2024\/06\/1717422860_432_Lenskart-200M-secondary-deal-Swiggys-valuation.jpg\" alt=\"sriharsha majety swiggy2\" title=\"sriharsha majety swiggy2\"\/><\/div>\n<p><em>Sriharsha Majety, MD &amp; group CEO, Swiggy<\/em>A fund managed by US-based asset manager <a href=\"https:\/\/economictimes.indiatimes.com\/tech\/technology\/baron-capital-marks-up-swiggy-valuation-by-25-to-15-1-billion\/articleshow\/110658838.cms\">Baron Capital has marked up the valuation<\/a> of food and grocery delivery platform Swiggy to $15.1 billion.<\/p>\n<p><span class=\"subHead\">Tell me more:<\/span> This marks a jump of 25% from the last fair value recorded by the investor, according to regulatory filings with the US Securities and Exchange Commission (SEC).<\/p>\n<div class=\"imageHolder\"><img decoding=\"async\" class=\"artimg\" align=\"center\" style=\"width:100%;\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2024\/06\/1717422861_976_Lenskart-200M-secondary-deal-Swiggys-valuation.jpg\" alt=\"Swiggy vs Zomato comparing valuations June 2024 Graphic ETTECH\" title=\"Swiggy vs Zomato comparing valuations June 2024 Graphic ETTECH\"\/><\/div>\n<p>Baron Capital has raised the fair value of its holding in Swiggy for the fourth straight time. The latest valuation ascribed to the Bengaluru-based company is as of March 31. As of December 31, 2023, <a href=\"https:\/\/economictimes.indiatimes.com\/tech\/startups\/baron-capital-marks-swiggy-valuation-at-12-1-billion-up-13-from-last-fundraise\/articleshow\/108326942.cms\">Baron Capital valued Swiggy at $12.1 billion.<\/a><\/p>\n<p><span class=\"subHead\">Forthcoming IPO: <\/span>After<a href=\"https:\/\/economictimes.indiatimes.com\/tech\/startups\/swiggy-secures-shareholder-nod-for-a-potential-1-2-billion-ipo\/articleshow\/109581616.cms\"> securing a nod from its shareholders<\/a>, Swiggy has confidentially filed draft papers with the Securities and Exchange Board of India (Sebi) for a $1.25-billion IPO.<\/p>\n<p>The company is looking to raise Rs 3,750 crore ($450 million) in fresh capital through the IPO, which will also include an offer-for-sale component of up to Rs 6,664 crore ($800 million).<\/p>\n<p><span class=\"subHead\">Cost-cutting measures: <\/span>In the run-up to its public offering, Swiggy has been cutting down on spending while increasing focus on profitability.<\/p>\n<p>Swiggy\u2019s largest shareholder, Prosus, had in December said that <a href=\"https:\/\/economictimes.indiatimes.com\/tech\/technology\/swiggy-loss-for-first-half-fy23-narrows-to-636-million-food-business-grows-17-prosus\/articleshow\/105587092.cms\">Swiggy\u2019s loss narrowed 35% from a year ago to $208 million <\/a>for the half year ended September 30, 2023.<\/p>\n<hr style=\"border-bottom: solid 1px #979797; margin: 20px 0 14px;\" data-attr-sectionload=\"jsSectionLad_3\"\/>\n<p>Pakistan-based hackers step up attacks against Indian govt systems<\/p>\n<p>          <\/p>\n<div class=\"imageHolder\"><img decoding=\"async\" class=\"artimg\" align=\"center\" style=\"width:100%;\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2024\/06\/1717422862_301_Lenskart-200M-secondary-deal-Swiggys-valuation.jpg\" alt=\"cyber security threats\" title=\"cyber security threats\"\/><\/div>\n<p>Pakistan-based groups SideCopy and Transparent Tribe (APT36) are increasingly <a href=\"https:\/\/economictimes.indiatimes.com\/tech\/technology\/pakistan-based-hackers-step-up-attacks-against-govt-systems\/articleshow\/110649581.cms\">targeting India&#8217;s government and defence IT systems<\/a> by launching malware attacks amid elections, cybersecurity firm Quick Heal Technologies said.<\/p>\n<p><span class=\"subHead\">Malware attacks: <\/span>In recent weeks, the company has detected three distinct campaigns launched by SideCopy, each characterised by the deployment of two instances of the AllaKore remote access trojan (RAT) as the final malicious payload.<\/p>\n<p>Spear-phishing email campaigns such as Operation RusticWeb and FlightNight have also emerged during this period, it said.<\/p>\n<p><span class=\"subHead\">Quote unquote: <\/span>\u201cThe infection typically commences with spear-phishing emails delivering malicious attachments or links that exploit vulnerabilities to gain initial footholds within target networks,\u201d Sanjay Katkar, joint managing director at Quick Heal Technologies, told us.<\/p>\n<hr style=\"border-bottom: solid 1px #979797; margin: 20px 0 14px;\" data-attr-sectionload=\"jsSectionLad_4\"\/>\n<p>ETtech Done Deals<\/p>\n<div class=\"imageHolder\"><img decoding=\"async\" class=\"artimg\" align=\"center\" style=\"width:100%;\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2024\/06\/1717422864_180_Lenskart-200M-secondary-deal-Swiggys-valuation.jpg\" alt=\"IMG 20240205 WA0006\" title=\"IMG 20240205 WA0006\"\/><\/div>\n<p><em>Astrotalk cofounder Anmol Jain<\/em><\/p>\n<p><span class=\"subHead\">Astrotalk raises $9.4 million from Left Lane Capital, Elev8 Venture Partners: <\/span>Noida-based Astrotalk, which provides digital astrology consulting services, has <a href=\"https:\/\/economictimes.indiatimes.com\/tech\/funding\/astrotalk-raises-9-4-million-from-left-lane-capital-elev8-venture-partners\/articleshow\/110661776.cms\">raised $9.4 million in an ongoing funding round<\/a> from existing investor Left Lane Capital and new investor Elev8 Venture Partners. <\/p>\n<p><span class=\"subHead\">Climate tech firm LogicLadder raises $2.5 million:<\/span> Sustainability and climate management solutions provider <a href=\"https:\/\/economictimes.indiatimes.com\/tech\/funding\/climate-tech-firm-logicladder-raises-2-5-million-in-funding-from-big-capital-rainmatter\/articleshow\/110669815.cms\" data-type=\"tilCustomLink\" target=\"_blank\" rel=\"noopener\">LogicLadder has raised $2.5 million in a funding round <\/a>led by Singapore-based Big Capital and Zerodha-backed venture fund Rainmatter. The funds will be used to expand its global footprint in South Asia and North America.<\/p>\n<hr style=\"border-bottom: solid 1px #979797; margin: 20px 0 14px;\" data-attr-sectionload=\"jsSectionLad_5\"\/>\n<p>Zerodha faces another technical glitch, users face Kite login issues<\/p>\n<p>         <\/p>\n<div class=\"imageHolder\"><img decoding=\"async\" class=\"artimg\" align=\"center\" style=\"width:100%;\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2024\/06\/1717422865_82_Lenskart-200M-secondary-deal-Swiggys-valuation.jpg\" alt=\"zerodha co founder nithin kamath\" title=\"zerodha co founder nithin kamath\"\/><\/div>\n<p><em>Zerodha cofounder Nithin Kamath<\/em><\/p>\n<p>Zerodha, India&#8217;s second-largest broking platform, <a href=\"https:\/\/economictimes.indiatimes.com\/markets\/stocks\/news\/zerodha-faces-another-technical-glitch-users-face-kite-login-issues\/articleshow\/110656414.cms\">experienced a technical glitch<\/a> this morning. Its official website kite.zerodha.com became inaccessible.<\/p>\n<p><span class=\"subHead\">What happened?<\/span> Zerodha\u2019s website displayed the error message \u2018503 Service Unavailable. No server is available to handle the request.\u2019 Traders on social media platform X reported the issue but Zerodha\u2019s official X id responded asking the users to connect to a different internet connection claiming the broking platform is \u201cworking fine.\u201d <\/p>\n<p><span class=\"subHead\">What the CEO said:<\/span> In January, cofounder and CEO Nithin Kamath had said tech companies like Zerodha can&#8217;t have zero glitches as the business is time-sensitive and caters to a large number of users. <\/p>\n<p>In 2023 alone, the company admitted to at least 8 technical glitches. Acknowledging the impact, Kamath said Zerodha has made significant architectural changes over the years.<\/p>\n<p><em>Today\u2019s ETtech Top 5 newsletter was curated by Megha Mishra in Mumbai and Riya Roy Chowdhury in Bengaluru.<\/em><\/p>\n<\/div>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"7859258044\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/economictimes.indiatimes.com\/tech\/newsletters\/tech-top-5\/lenskarts-secondary-deal-baron-capital-bumps-up-swiggys-valuation\/articleshow\/110670701.cms\">READ SOURCE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore&#8217;s Temasek and US-based Fidelity have invested $200 million in Lenskart through a secondary share sale. This and more in today\u2019s ETtech Top 5. Also in this letter:\u25a0 Pakistan-based hackers step up attacks\u25a0 ETtech Done Deals\u25a0 Zerodha faces technical glitch Temasek, Fidelity pump $200 million in Lenskart secondary deal at $5 billion valuation Peyush Bansal, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1333123,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_oct_exclude_from_cache":false,"footnotes":""},"categories":[17],"tags":[],"class_list":["post-1333122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lenskart $200M secondary deal; Swiggy\u2019s valuation \u2b06\ufe0f\u2b06\ufe0f - Business Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economictimes.indiatimes.com\/tech\/newsletters\/tech-top-5\/lenskarts-secondary-deal-baron-capital-bumps-up-swiggys-valuation\/articleshow\/110670701.cms\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lenskart $200M secondary deal; Swiggy\u2019s valuation \u2b06\ufe0f\u2b06\ufe0f - Business Telegraph\" \/>\n<meta property=\"og:description\" content=\"Singapore&#8217;s Temasek and US-based Fidelity have invested $200 million in Lenskart through a secondary share sale. 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Also in this letter:\u25a0 Pakistan-based hackers step up attacks\u25a0 ETtech Done Deals\u25a0 Zerodha faces technical glitch Temasek, Fidelity pump $200 million in Lenskart secondary deal at $5 billion valuation Peyush Bansal, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economictimes.indiatimes.com\/tech\/newsletters\/tech-top-5\/lenskarts-secondary-deal-baron-capital-bumps-up-swiggys-valuation\/articleshow\/110670701.cms\" \/>\n<meta property=\"og:site_name\" content=\"Business Telegraph\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-03T13:31:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2024\/06\/1717422871_Lenskart-200M-secondary-deal-Swiggys-valuation.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1070\" \/>\n\t<meta property=\"og:image:height\" content=\"580\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"businesstelegraph\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"businesstelegraph\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/economictimes.indiatimes.com\/tech\/newsletters\/tech-top-5\/lenskarts-secondary-deal-baron-capital-bumps-up-swiggys-valuation\/articleshow\/110670701.cms#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.businesstelegraph.co.uk\/lenskart-200m-secondary-deal-swiggys-valuation-%e2%ac%86%ef%b8%8f%e2%ac%86%ef%b8%8f\/\"},\"author\":{\"name\":\"businesstelegraph\",\"@id\":\"https:\/\/www.businesstelegraph.co.uk\/#\/schema\/person\/0a3a6a0f58402f1f2af94e02d0987b78\"},\"headline\":\"Lenskart $200M secondary deal; 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This and more in today\u2019s ETtech Top 5. Also in this letter:\u25a0 Pakistan-based hackers step up attacks\u25a0 ETtech Done Deals\u25a0 Zerodha faces technical glitch Temasek, Fidelity pump $200 million in Lenskart secondary deal at $5 billion valuation Peyush Bansal, [&hellip;]","og_url":"https:\/\/economictimes.indiatimes.com\/tech\/newsletters\/tech-top-5\/lenskarts-secondary-deal-baron-capital-bumps-up-swiggys-valuation\/articleshow\/110670701.cms","og_site_name":"Business Telegraph","article_published_time":"2024-06-03T13:31:31+00:00","og_image":[{"width":1070,"height":580,"url":"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2024\/06\/1717422871_Lenskart-200M-secondary-deal-Swiggys-valuation.jpg","type":"image\/jpeg"}],"author":"businesstelegraph","twitter_card":"summary_large_image","twitter_misc":{"Written by":"businesstelegraph","Estimated reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economictimes.indiatimes.com\/tech\/newsletters\/tech-top-5\/lenskarts-secondary-deal-baron-capital-bumps-up-swiggys-valuation\/articleshow\/110670701.cms#article","isPartOf":{"@id":"https:\/\/www.businesstelegraph.co.uk\/lenskart-200m-secondary-deal-swiggys-valuation-%e2%ac%86%ef%b8%8f%e2%ac%86%ef%b8%8f\/"},"author":{"name":"businesstelegraph","@id":"https:\/\/www.businesstelegraph.co.uk\/#\/schema\/person\/0a3a6a0f58402f1f2af94e02d0987b78"},"headline":"Lenskart $200M secondary deal; 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