Lenskart Raises $200 Million at $4.5 Billion Valuation

Lenskart is an optical prescription eyewear retail chain that owns an omnichannel eyewear brand. The company operates as an e-commerce marketplace for prescription power glasses, frames, BLU glasses, and goggles. Moreover, Lenskart operates both online and offline. Lenskart revolutionized the industry with its “Home eye checkup”, using special robots to deliver glasses in Lenskart that are accurate to 3 decimal places.

The funding round was led by Alpha Wave Global (previously Falcon Edge). Among other investors were Epiq Capital and Avendus Future Leaders Fund II. Lenskart plans to use the money raised to open 400 more new stores, enlarging an existing number of over 1000 ones.

Lenskart, Faridabad, India, was founded by Peyush Bansal, Sumeet Kapahi, and Amit Chaudhary in 2010. Lenskart provides its customers with a choice across more than 5000 models of eyewear. Besides, the company manufactures everything in the eyewear category – from reading glasses and sunglasses to contact lenses. The manufacturing facility in Delhi produces over 300 000 sunglasses per month. More than that, nearly 20% of frames’ production comes from Lenskart’s factory in Zhengzhou, China. “We are looking to grow by 60-70% in the current financial year. While most of the 1,100 stores of Lenskart are in India, we will continue to expand with 400 new stores as we look to scale our revenue,” Lenskart’s founder and CEO, Peyush Bansal.

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