Lenskart Raises AjnaLens Stake to 9.01% With $950K Investment

Lenskart has raised its stake in extended reality (XR) startup AjnaLens’ parent company Dimension NXG to 9.01% after investing Rs 8 crore (about $950,000), a regulatory filing shows. The transaction adds 1.8 percentage points to Lenskart’s holding, taking it from 7.21% to 9.01%, and marks the company’s third investment in AjnaLens this year.

"The latest investment will strengthen its association with the XR, AI and smart wearable technology ecosystem and support opportunities in smart eyewear," Lenskart said.

Details of the transactions and partnership

The Rs 8 crore infusion in AjnaLens follows earlier purchases in 2026: a 0.68% stake acquired in February and a 1.69% stake purchased in July. Collectively, the three transactions have increased Lenskart’s stake by 4.17% for a total outlay of Rs 18.5 crore to date.

• Latest purchase: Rs 8 crore for an additional 1.8% stake, taking total to 9.01%
• February 2026: 0.68% stake
• July 2026: 1.69% stake
• Total invested in AjnaLens in 2026 so far: Rs 18.5 crore

AjnaLens was founded in 2014 by Pankaj Raut, Abhijit Patil and Abhishek Tomar and builds XR hardware and software solutions targeted at defence and enterprise customers. The startup reported revenue of Rs 10.4 crore in FY26, down from Rs 12.8 crore in FY25, highlighting that the company is still in an early commercialisation phase despite growing strategic interest from corporate backers.

Strategic rationale and product ties

Lenskart first invested in AjnaLens in July 2025 with a stated objective of collaborating on AI-powered smart glasses, combining Lenskart’s frame design and engineering capabilities with AjnaLens’ XR technology. The eyewear retailer has been expanding its smart eyewear portfolio — including Phonic audio glasses — and previewed plans for upcoming AI-powered smart glasses. Lenskart also announced a partnership with Qualcomm to access smart-glasses technology.

The moves underline Lenskart’s push beyond optical retail into smart wearables and XR, aiming to leverage hardware partnerships and in-house design to develop consumer-facing smart glasses that integrate audio, XR and AI features.

Company context and financials

Founded in 2010, Lenskart operates as an omnichannel eyewear retailer across India, the UAE, Singapore and Japan. As of June 30, 2026, the company operated 3,459 stores in India. Its recent financial performance shows robust growth: in Q1 FY27 Lenskart’s net profit jumped 273% year-on-year to Rs 228.4 crore, while operating revenue rose 43% to Rs 2,714.2 crore.

Outlook: With incremental investments in AjnaLens and partnerships with chipset and XR players such as Qualcomm, Lenskart appears to be positioning itself to play a substantive role in the emerging smart-eyewear market. The company’s continued capital support for AjnaLens—combined with its retail footprint and product-engineering capabilities—may accelerate the commercial rollout of AI-enabled glasses, though AjnaLens’ recent revenue decline indicates execution and monetisation remain near-term challenges.