In its latest financial boost, EyeMyEye, the full-stack eyewear platform, has successfully raised Rs 20.8 crore (approximately $2.5 million) in a new tranche as part of its pre-Series A round. As per regulatory filings, the company’s board passed a special resolution to issue 14,44,847 pre-Series A CCPS at an issue price of Rs 143.96 each, facilitating the fundraising endeavour.
Key investors in this round include RBA Finance & Investments and Ashish Ramesh Kacholia, who contributed Rs 10 crore each, while Sachin Shah joined with Rs 80 lakh. Following this influx of funds, RBA Finance and Ashish Kancholia will each hold a 6.22% stake in the company.
EyeMyEye, established in 2021 by Ganesh Iyer, distinguishes itself by offering various customized eyewear products, including eyeglasses and sunglasses, both online and offline. This recent funding round adds to the approximately Rs 90 crore ($11 million) raised by EyeMyEye thus far, which includes a notable $5 million round led by LC Nueva AIF in August 2022.
The capital infusion is earmarked for bolstering operational capabilities, attaining predefined milestones, and aligning with the stipulations outlined in the shareholder’s agreement. In the thriving eyewear market, EyeMyEye faces formidable competitors such as Lenskart, ClearDekho, Cool Winks, and Lens2Home.
