Lenskart Invests in Ajna Lens for Next-Generation AI-Powered XR Glasses
Lenskart Invests in Ajna Lens for Next-Generation AI-Powered XR Glasses
Lenskart, the prominent eyewear brand led by Peyush Bansal, has announced a strategic investment in Mumbai-based deeptech startup Ajna Lens. Ajna Lens is recognized for developing AI-driven extended reality (XR) glasses, marking a significant move in Lenskart’s efforts to expand into smart eyewear technologies. The value of the investment has not been disclosed.
Founded in 2014, Ajna Lens focuses on building immersive hardware and software platforms utilizing spatial computing, AI vision, and XR technology. The company, which won the CES Innovation Award in 2023 for its AjnaXR mixed-reality headset, caters to enterprise, education, and defense clients, offering solutions that bridge the physical and digital realms.
Peyush Bansal, Lenskart’s co-founder and CEO, commented, “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 Ajna Lens strategically positions us to accelerate product innovation in this space.”
Lenskart plans to leverage its experience in frame design and engineering to work alongside Ajna Lens, aiming to develop consumer-ready smart glasses that combine new AI and XR features. The company, which is preparing for an IPO, is committed to making smart glasses that are practical, stylish, and accessible to a wider audience.
Headquartered in Gurugram, Lenskart runs more than 2,500 stores across India and Southeast Asia and maintains a robust online presence. Annually, the company manufactures 25 million frames and produces between 30 and 40 million lenses.
This development coincides with Lenskart’s transition to a public limited company in June, a step required for listing on Indian stock exchanges. Reports suggest the company is considering a $1 billion IPO with a $10 billion valuation—twice the $5 billion figure from its $200 million secondary funding round last year, which saw participation from Temasek and Fidelity Investments.
About Lenskart
Lenskart is one of India’s largest eyewear retailers, founded in 2010 by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi. Headquartered in Gurugram, Lenskart has transformed the country’s eyewear market by offering a seamless online and offline shopping experience. With more than 2,500 physical stores across India and Southeast Asia, the company also operates a robust digital platform, making prescription eyewear and sunglasses widely accessible and affordable.
Lenskart is known for its vertically integrated business model, managing manufacturing, assembly, and distribution in-house. The company produces about 25 million frames and 30–40 million lenses each year, allowing for cost efficiency and quality control. Lenskart’s innovative approach includes features like 3D try-on technology, home eye tests, and a wide range of trendy, customizable frames.
The company is led by CEO and co-founder Peyush Bansal, who has guided Lenskart’s expansion into smart eyewear, including the Phonic audio glasses launched in 2024. Lenskart has attracted significant investment, with backing from Temasek and Fidelity Investments, and is currently preparing for a public listing with an estimated valuation of $10 billion. The brand’s mission is to make eyewear accessible, affordable, and stylish for millions, combining technology, design, and scale.
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About Ajna Lens
Ajna Lens is a Mumbai-based deeptech startup specializing in AI-powered extended reality (XR) solutions. Founded in 2014 by Abhijit Patil, Pankaj Raut, and Prasad Bhosale, Ajna Lens develops immersive hardware and software platforms built on spatial computing, AI vision, and XR technologies. The company is recognized for its innovation in merging physical and digital experiences, catering to sectors such as enterprise, education, and defense.
Ajna Lens gained global recognition after winning the CES Innovation Award in 2023 for its AjnaXR mixed-reality headset. The headset and other products are designed to enable training, simulation, and collaboration in highly immersive environments. Ajna Lens’s platforms help organizations upskill employees, facilitate remote learning, and deliver advanced simulations for the defense sector.
The company’s R&D-driven approach is backed by a team of engineers, designers, and AI experts who continually push the boundaries of what XR can achieve. Ajna Lens’s collaboration with industry leaders like Lenskart aims to bring smart, AI-powered glasses to consumers and enterprises alike. With a strong focus on India’s technological landscape, Ajna Lens is committed to making XR solutions accessible, practical, and impactful on a global scale.
Featured image credit: Indian Retailer
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