Lenskart has recently secured a $20 million investment led by CEO Peyush Bansal, alongside co-founders Neha Bansal and Amit Chaudhary. This marks their second substantial financial commitment within seven months, signaling unwavering confidence in the company’s growth trajectory and market potential.
The funding was raised by issuing 695,875 Compulsorily Convertible Preference Shares (CCPS) at Rs 2,300 each, amounting to Rs 160 crore ($19.12 million). Co-Founder, Peyush Bansal led the round with a contribution of Rs 70.70 crore, followed by Neha Bansal with Rs 70.39 crore, Amit Chaudhary with Rs 9.60 crore and Sumeet Kapahi with Rs 9.35 crore.
Post investment, Peyush Bansal stated, “This investment reflects our belief in Lenskart’s vision to make high-quality eyewear accessible globally. We are committed to scaling our operations and leveraging innovation to redefine the eyewear experience for millions of customers.”
The capital will be strategically utilised to expand Lenskart’s retail presence and invest in cutting-edge technology, further solidifying its position as an industry leader.
Founded in 2008, Lenskart has revolutionised eyewear retail with its omnichannel strategy, blending online and offline shopping experiences. With a global footprint spanning over 2,500 outlets—2,000 of which are in India—the brand caters to 40 million customers annually. While 60 per cent of its revenue comes from India, the rest is generated from international markets, including Singapore, Dubai, USA and Southeast Asia.
