Lenskart is an Indian eyewear online portal founded by Peyush Bansal along with Amit Chaudhary and Sumeet Kapahi in November 2010. The product range contains prescription eyeglasses, sunglasses and contact lenses. Lenskart has self owned and franchisee stores in various cities and towns of India.As per the latest information from the sources online eyewear retailer Lenskart has raised an undisclosed amount of funding from Ratan Tata. The investment is a part of Lenskart’s latest fundraising initiative, through which the company is looking to raise about INR 400 Cr.
One of the major investors for this round will be International Finance Corporation (IFC). As far Ratan Tata is concerned, like his previous investments, the size of investment remains small and his role will be more of a mentor/advisor rather than a financial investor.
As per sources familiar of the development the latest round of fundraising will value Lenskart at about $240 Mn (about INR 1,600 Cr.).
Along with Tata and IFC the existing investors which include TPG Growth and IDG Ventures are also likely to participate in this round.
Lenskart is looking at utilising the funds raised towards the growth of Lenskart’s distribution network across tier II and III cities through the offline franchisee partner network.
Along with offering prescribed and fashion eyewear from brands like Rayban, Oakley, Tag Heuer, Fastrack, Sprint, Vintage, Johnson & Johnson, Ciba Vision, Bausch & Lomb, and Cooper Vision, etc. Lenskart also provides services like home eye check-up programme, try-before-you-buy, virtual studio or try on, new lenses in old frames, refer and win, as well as an exchange programme.