Myopic vision is a huge and growing problem globally, and Lenskart seeks to address the problem by investing in technology and supply chain.

Lenskart, the Indian eyewear brand, has secured $100 million in funding from private equity firm ChrysCapital through primary and secondary share sales. This investment follows a series of capital infusions totaling nearly $850 million in the past year, further supporting Lenskart’s growth plans and solidifying its position as a global leader in the eyewear industry.

Peyush Bansal, the Founder and CEO of Lenskart, said the investment from ChrysCapital aligned with the company’s philosophy to seek long-term collaborators who share their vision of creating organizations that improve lives and contribute to a better world.

Lenskart recognizes the increasing prevalence of myopia worldwide, particularly in Asia and India, where issues related to accessibility, affordability, and awareness remain unresolved. To address these challenges, the company believes that leveraging technology, customer-centricity, and substantial investments in the supply chain and talent can eliminate vision correction problems. (Hindu Businessline)

The collaboration between ChrysCapital and Lenskart revolves around their shared vision of establishing a leading global eyewear brand through innovation, customer-centricity, and technology. Avendus Capital served as the exclusive financial advisor to Lenskart and its shareholders throughout the funding process.

Rajiv Batra, Senior Vice President at ChrysCapital Advisors, commended Lenskart for its role in developing the eyewear market, emphasizing its unwavering dedication to customer satisfaction, affordability, and reliability. With the recent acquisition of Owndays, Lenskart has the potential to expand its presence to over 10 Asian countries, in addition to its already significant presence in India.

Lenskart continues to expand its customer base in India, with 20 million customers currently.

The company is also venturing into international markets in Asia and the Middle East. In a bid to further enhance its reach, Lenskart is vertically integrating its operations with a new manufacturing facility, enabling competitive pricing, faster delivery times, and exceeding customer expectations.

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