The latest ₹7.99 crore investment takes Lenskart’s stake in AjnaLens’ parent Dimension NXG to 9.01%, strengthening its focus on AI, XR and smart eyewear.
Lenskart has raised its stake in AjnaLens’ parent company to 9.01% after investing another ₹7.99 crore, strengthening its push into AI-powered smart eyewear and extended reality.
Peyush Bansal-led Lenskart has acquired an additional 1.80% stake in Dimension NXG Private Limited, the parent company of extended reality startup AjnaLens.
The transaction, completed on September 13, takes Lenskart’s holding in Dimension NXG to 9.01% on a fully diluted basis, according to a regulatory filing.
The latest investment marks the third time Lenskart has increased its stake in the company this year. It also signals that the eyewear company continues to see strategic value in AjnaLens’ expertise as smart glasses move closer to mainstream adoption.
Lenskart Has Increased Its AjnaLens Stake Three Times in 2026
Lenskart first invested in AjnaLens in July 2025, committing around ₹21 crore to work on AI-powered smart glasses.
By the time Lenskart went public, it held a 5.05% stake in Dimension NXG.
The company then increased its holding through three transactions in 2026:
- February 26: Additional 0.68% stake
- July 4: Additional 1.69% stake
- September 13: Additional 1.80% stake for ₹7.99 crore
Together, the three 2026 transactions represent a 4.17% stake acquired for an aggregate ₹18.5 crore.
The latest deal therefore takes Lenskart’s total holding to 9.01%.
What Is AjnaLens?
AjnaLens, founded in 2014 by Pankaj Raut, Abhijit Patil and Abhishek Tomar, develops hardware and software based on extended reality technology.
The company primarily serves defence and enterprise customers rather than the consumer market.
That distinction matters when looking at its financial performance. Enterprise and defence businesses often operate with longer sales cycles, larger individual orders, and uneven revenue recognition. As a result, one year of revenue does not necessarily provide a complete picture of the underlying business.
Dimension NXG reported turnover of approximately ₹15.97 crore in FY24, ₹12.8 crore in FY25 and ₹10.4 crore in FY26.
Revenue therefore declined by about 19% in the latest financial year and roughly 35% over two years.
Despite that decline, Lenskart continues to increase its exposure to the company.
Why Lenskart Wants XR Technology
Lenskart’s interest in AjnaLens reflects a larger shift in the eyewear industry.
Smart glasses are emerging as a new product category, but building them presents a difficult engineering challenge.
A smart glasses product needs to combine displays, cameras, batteries, audio components, and computing technology with the optical requirements of ordinary eyewear.
Prescription users add another layer of complexity.
Technology companies may have expertise in computing and artificial intelligence, but they do not necessarily possess the optical manufacturing capabilities, frame engineering expertise, prescription-lens infrastructure, or retail network required to sell smart glasses at scale.
Lenskart already has much of that infrastructure.
AjnaLens, meanwhile, brings experience in extended reality and spatial computing.
The investment allows Lenskart to gain greater exposure to that technology without acquiring AjnaLens outright or building the entire capability internally.
Lenskart Is Building a Broader Smart Eyewear Strategy
The AjnaLens investment forms part of a wider smart eyewear push.
Lenskart has launched Phonic, its line of audio glasses, and has said it is developing AI-powered smart glasses.
The company has also partnered with Qualcomm on the technology platform supporting its smart eyewear efforts.
That combination gives Lenskart access to different parts of the emerging category.
Its existing strength lies in eyewear design, optical products, manufacturing, and retail distribution. Its partnerships and investments can provide access to the technology required to add computing and AI capabilities to those products.
Lenskart Has the Scale to Fund the Bet
Lenskart has expanded well beyond its original Indian market.
The company operates across India, the UAE, Singapore, and Japan and had 3,459 stores as of June 30, 2026.
Its financial performance also gives it room to invest in newer categories.
In the first quarter of FY27, Lenskart reported a net profit of ₹228.4 crore, representing a 273% increase year over year.
That financial position gives the company greater flexibility to invest in emerging technologies while continuing to expand its core eyewear business.
A Bigger Bet on AI and Smart Glasses
Lenskart’s decision to increase its Dimension NXG stake despite the startup’s recent revenue decline suggests that the investment is primarily strategic.
The company is not simply buying into AjnaLens as an eyewear business. It is gaining exposure to extended reality, spatial computing and the technology required to build the next generation of connected eyewear.
The bigger opportunity lies in bringing those capabilities together with Lenskart’s existing optical and retail infrastructure.
If smart glasses become a significant consumer category, the companies that can combine technology with prescription eyewear, fitting, and distribution could have an important advantage.
Lenskart’s growing stake in AjnaLens shows that the company wants to be positioned before that market fully develops.
