Lenskart raises AjnaLens stake to 9% with Rs 7.99 Cr buy
Peyush Bansal-led Lenskart has acquired an additional 1.80% of Dimension NXG Private Limited, the parent of extended reality startup AjnaLens, for Rs 7.99 crore, taking its holding to 9.01% on a fully diluted basis.
The transaction was completed on 13 September and disclosed in a regulatory filing.
It is the third time Lenskart has increased its stake in the company this year. The company said the investment strengthens its association with the extended reality, AI and smart wearable technology ecosystem, and supports technology-led opportunities in smart eyewear.
Lenskart made its first investment in AjnaLens in July 2025, for around Rs 21 crore, to work on AI-powered smart glasses. By the time Lenskart went public it held 5.05% of Dimension NXG. It then acquired an additional 0.68% on 26 February this year, a further 1.69% on 4 July, and 1.80% on 13 September for Rs 7.99 crore, which took the total to 9.01%.
The three tranches completed in 2026 together represent 4.17% of the company for an aggregate Rs 18.5 crore.
What the numbers say about AjnaLens
Dimension NXG reported turnover of about Rs 15.97 crore in FY24, Rs 12.8 crore in FY25 and Rs 10.4 crore in FY26. That is a decline of roughly 19% in the most recent year, and about 35% over two years.
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AjnaLens was founded in 2014 by Pankaj Raut, Abhijit Patil and Abhishek Tomar, and builds hardware and software using extended reality. Its customers are in defence and enterprise rather than consumer markets, where sales cycles are long, order sizes lumpy, and revenue in any single year says less about the business than it would for a consumer company.
Why an eyewear retailer is buying XR technology
Smart glasses are becoming a real product category, and the companies building them keep running into the same problem. Most people who wear glasses need prescription lenses, and fitting prescription lenses into a frame packed with displays, cameras, batteries and audio is genuinely difficult.
Technology companies have the computing. What they lack is lens-making, frame engineering, optical fitting and a network of stores where a customer can have their eyes tested and the product fitted.
Lenskart has the optical and retail infrastructure, while AjnaLens brings deeper expertise in XR and spatial computing. The investment buys Lenskart a position in the technology without acquiring the company outright or building a research division from scratch.
The AjnaLens stake sits inside a broader effort. Lenskart has launched Phonic, a line of audio glasses, and has said it is working on AI-powered smart glasses. It has partnered with Qualcomm for the technology stack underpinning those glasses.
Founded in 2010, Lenskart operates across India, the UAE, Singapore and Japan, and had 3,459 stores as of 30 June 2026. In the first quarter of FY27 it reported net profit of Rs 228.4 crore, up 273% year-on-year.
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