Nesso Brands, an associate of spectacle maker Lenskart, has raised $ 100 million in a seed fund round, which will enable the firm to build a catering brand house in the global market.
The company did not disclose the details of the investors involved. However, Lenskart, which owns Singapore-headquartered Nessus, has previously raised funds from prominent investors such as KKR, Softbank, Alpha Wave Global and Temasek.
In a recent funding round in April, Lenskart was valued at more than 4 billion.
Founded in 2022, Neso Brands is an eyewear manufacturer and retailer that facilitates analysis, technology and its own supply chain and distribution to create a large network of co-owned direct-to-consumer (D2C) brands.
Outside of Singapore, Neso Brands plans to sell its spectacles products in a global market through partnerships with top entrepreneurs in the industry. It plans to grow these brands by investing in global consumer eyewear brands and coordinating across the Lenskart Group to accelerate international expansion.
Nesso Brands will use e-commerce and technology such as AR and AI for iWear brands as a strategy to capture global market share. Neso Brands will retain these brands and enable brands to accelerate a rapid global rollout by providing access to shared resources – especially technology, supply chain, distribution, capital and best practices.
Neso Brands also said that Bijorn Bergstrom has joined the founding team as CEO.
Bergstrom is an experienced investor and D2C operator who recently served as Chief Growth Officer and Interim Chief Product and Technology Officer for the global fashion brand NA-KD. Bergstrom’s previous experience has been working as an enterprise capital investor focusing on early-stage growth startups, management advice as well as operational roles in consumer startups.
“Today, there is a perfect storm in the spectacle industry that is ripe for disruption. Consumers have an increasingly high demand for customer experience, branding and preferences, but responsible players are unable to keep up. By investing in the most promising new brands in the industry and leveraging centralized resources across technology, manufacturing and distribution, Neso brands will be uniquely positioned to scale the spectacle brands of the future, “Bergstrom, CEO of Neso Brands, said in a statement.
“With this investment in Neso Brands, we want to accelerate our goal of transforming people into a world view and experience. Consumers want better and better every day and while the quality of life of people has been improved through shoes, clothing and all other wearable lifestyle products, spectacle products are the same old without any innovation, only more expensive. And Nesso is our initiative to partner with founders worldwide to help build the future Ivory brand, ”said Piyush Bonsal, CEO of Lenskart.