Lenskart Invests in AjnaLens to Build AI-Powered Smart Glasses and Lead the XR Eyewear Revolution

Lenskart has announced a strategic investment in AjnaLens, a Mumbai-based deep-tech company building AI-powered XR glasses. They won the CES Innovation Award in 2023 for industry’s most advanced mixed reality headset - AjnaXR.

This partnership represents a step forward in the development of AI-powered Smart Glasses. Lenskart plans to leverage its expertise in frame design and engineering, combined with its technology-first approach, to create Smart Glasses that are accessible to all and cater better to consumer lifestyle needs, because for Lenskart, Smart Glasses are glasses first.

Lenskart’s omnichannel presence in 14 countries allows it to leverage customer insights to drive its product development and innovation strategy.

Commenting on the announcement, Peyush Bansal, Co-Founder & CEO, Lenskart, said, “We have been leveraging technology to create distinctive and meaningful eyewear experiences for our customers. This investment marks the next chapter in our Smart Glass journey, which began with the launch of Phonic, our audio glasses, in December 2024. As the Smart Glasses category scales rapidly, our partnership with AjnaLens strategically positions us to accelerate product innovation in this space.”

Founded in 2014 and headquartered in Thane, Mumbai, AjnaLens is a deep-tech startup developing immersive technologies powered by spatial computing, AI vision, and a XR stack. 

The commercial terms of the investment remain undisclosed. 

IPO Prep Strengthens Move

Lenskart recently converted into a public limited company on 6 June 2025, as it prepares for an IPO expected to raise around $1 billion at an estimated $10 billion valuation, doubling its last private valuation of $5 billion. This strategic cash infusion boosts its deep‑tech play and underpins its ambition to lead in AI‑powered smart eyewear.

About Lenskart

Founded in 2010, Lenskart is a technology-driven eyewear company operating an integrated platform spanning designing, manufacturing, branding and retailing. It has a global

presence and offers prescription eyewear, sunglasses, contact lenses and eyewear accessories. Its omnichannel platform is powered by technology such as AI-driven

recommendations and 3D try-on features, simplifying the eyewear purchase journey & enabling better eye health for customers.

Lenskart Business Model | How Does Lenskart Make Money | USP | Business Model Canvas

Discover Lenskart’s business model that combines technology with fashion. Learn how Lenskart generates revenue through eyewear sales, subscription plans, and in-store customization services along with its USP, business model canvas and revenue.

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