Lenskart invests in Mumbai-based Ajna Lens amid smart glasses push

IPO-bound eyewear retailer Lenskart has invested in Ajna Lens, a Mumbai-based AI startup, as it aims to get into the wearables market by developing smart glasses. The announcement comes at a time when the Peyush Bansal-led unicorn is also in talks to acquire location AI startup GeoIQ. The investment in Ajna Lens will give Lenskart access to the startup’s artificial intelligence-powered extended reality (XR) technology, which helps them develop some of the most advanced wearable tech products. The company did not, however, disclose the amount of money it has put into Ajna Lens. “This investment marks the next chapter in our Smart Glass journey, which began with the launch of Phonic, our audio glasses, in December 2024,” said Peyush Bansal, Co-founder and CEO of Lenskart. According to industry estimates, the global smart glasses market is currently valued at over $6 billion and is expected to reach $15.08 billion by 2032, growing at a CAGR of 10.3%.