Home Fashion glasses Lenskart Subsidiary Neso Brands Raises $100M in Seed Funding

Lenskart Subsidiary Neso Brands Raises $100M in Seed Funding

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Lenskart subsidiary Neso Brands has raised over $100 million in seed funding from KKR, Softbank, Alpha Wave Global and Temasek.

Singapore-based global eyewear company Neso Brands said it will house eyewear brands and enable faster global rollout by giving brands access to shared resources including technology, supply chain , distribution, capital and best practices. Neso Brands will partner with and invest in consumer eyewear brands worldwide and grow these brands by leveraging synergies within the Lenskart Group to accelerate international expansion.

To lead this business, Neso Brands appointed Bjorn Bergstrom as Founding CEO. Bergstrom is an experienced investor and D2C operator, having most recently served as chief growth officer and interim chief product and technology officer for global fashion brand NA-KD. Bergstrom’s experience prior to that includes work as a venture capitalist focused on early growth startups, management consulting as well as operational roles in consumer startups.

Bjorn Bergstrom, CEO of Neso Brands, said, “Today there is a perfect storm in the eyewear industry that makes it ripe for disruption. Consumers have increasingly high demands on customer experience, brand image and choice, but incumbents have been unable to keep up. By investing in the industry’s most promising new brands and leveraging centralized resources across technology, manufacturing and distribution, Neso Brands will be uniquely positioned to scale the eyewear brands of the future. I look forward to leading the company on this journey and working closely with our investors and partners.”

Adding to this, Peyush Bansal, CEO of Lenskart, said, “With this investment in Neso Brands, we want to accelerate our mission to transform the way people see and experience the world. Consumers want better and better every day and although people’s quality of life has been improved through all other lifestyle products such as shoes, clothes and apparel, eyewear products are the same, without innovation, just more expensive. We firmly believe that the eyewear brands of today will not be the brands of tomorrow. And Neso is our initiative to partner with founders around the world to help create the eyewear brands of the future. ”

Published on

May 16, 2022