Lenskart Backs Ajna Lens to Scale AI-Powered Smart Glasses

Eyewear heavyweight Lenskart has made a strategic investment in Ajna Lens, a Mumbai-based deep-tech startup developing AI-powered extended reality (XR) glasses. The deal aligns with Lenskart’s expansion into smart eyewear and supports its upcoming US$1 billion IPO at a “$10 billion” valuation.

🔍 What is Ajna Lens?

• Founded in 2014 and headquartered in Thane, Ajna Lens specialises in immersive spatial computing.
• Its flagship product, AjnaXR, won a CES Innovation Award in 2023 for its mixed-reality headset.
• The company serves clients in enterprise, education, and defence, focusing on bridging physical and digital experiences through AI vision and XR stack technology.

🚀 Why Lenskart Invested

1. Smart Eyewear Roadmap

Lenskart entered the smart eyewear space with “Phonic” audio glasses in December 2024. The investment accelerates its path into fully-featured XR glasses.

2. Tech Leadership

The partnership brings together Lenskart’s expertise in frame design and mass manufacturing, 25 million frames and 30–40 million lenses annually, with Ajna Lens’s deep-tech stack.

3. IPO Preparation

As Lenskart transitions to a public limited company, this partnership adds depth to its portfolio ahead of its planned public debut.

🌍 Market Context

• The global smart glasses market has tripled since 2022, crossing 2 million units shipped in 2024, and is projected to grow from over $6 billion to $15 billion by 2032.
• India’s AR/VR eyewear industry reached $608 million in 2024, expected to grow to $1.67 billion by 2033, led by sectors like gaming, healthcare, and education.
• The competition includes Meta’s Ray-Ban Meta glasses and upcoming products from Apple and Samsung.

🛠 How the Partnership Will Work

• Frame & Design Expertise: Lenskart will apply its in-house design skills to make smart glasses look stylish and comfortable.
• Mass Production: Lenskart’s factory infrastructure can scale Ajna Lens’s XR hardware to a consumer-ready product line.
• R&D Synergies: Combining Ajna’s deep-tech know-how with Lenskart’s tech-first ethos supports the creation of affordable smart eyewear.

🎙 What the CEOs Say

Peyush Bansal, Co-founder & CEO, Lenskart:

“This investment marks the next chapter in our Smart Glass journey, which began with Phonic in December 2024. As the Smart Glasses category scales rapidly, our partnership with Ajna Lens strategically positions us to accelerate product innovation.”

Ajna Lens remains independent but will receive design input from Lenskart to help create market-ready consumer eyewear.

📈 Strategic Implications

• Consumer Accessibility: The goal is to shift XR glasses from enterprise tools to stylish daily wear.
• Competitive Edge: This collaboration gives Lenskart an early lead in the Indian wearable tech segment.
• IPO Strength: The investment strengthens Lenskart’s tech credentials just before its public listing.

🌐 Broader Growth Strategy

Lenskart has been expanding via strategic acquisitions:

• Owndays, Japan (2022)
• Le Petit Lunetier, France (2023)
• Tango Eye, AI vision company (2023)

It now operates over 2,500 stores across 14 countries and runs manufacturing plants in India, including a ₹1,500 crore Telangana facility.

🗓 What’s Next

• Integration Phase: Prototype development using Ajna’s XR and Lenskart’s frames.
• Pilot Testing: Internal trials, possibly in employee and select customer cohorts.
• Product Launch: Smart eyewear roll-out aligned with or following Lenskart’s IPO in late 2025.
• Market Reach: Global launch leveraging Lenskart’s multinational network in South and West Asia.

🚨 Why This Matters

• Smart Eyewear Mainstreaming: Combines vision correction with AI features like step tracking, AR overlays, and voice control.
• Indian Innovation: Showcases an Indian company integrating cutting-edge tech with local manufacturing to challenge global brands.
• Investor Confidence: Strengthens Lenskart’s positioning as India’s high-tech consumer unicorn ahead of public listing.

📝 Final Take

Lenskart’s investment in Ajna Lens is a strategic leap into the smart eyewear era. Heritage in frame design, deep manufacturing, and a tech-driven vision meet Ajna’s spatial computing and AI. If executed well, this may redefine eyewear as a lifestyle and digital innovation product.

As Lenskart prepares to hit the stock market, its bet on XR and smart glasses may prove pivotal, not just for its IPO valuation, but for shaping consumer wearables in India and beyond.