Home / Companies / Lenskart raises funds from Premji Invest

New Delhi: Lenskart Solutions Pvt. Ltd, the online eyewear retailer, on Tuesday said it has raised an undisclosed amount from Premji Invest, the investment office of Azim Premji, chairman and founder of the Wipro Group.

The round comes after Lenskart raised 400 crore from World Bank arm IFC, Ratan Tata and Infosys co-founder Kris Gopalakrisnan in its Series D round in May. Existing investor TPG Growth and IDG Ventures had also participated in that round.

“With this collaboration, the company will be able to draw on Premji Invest’s extensive experience, particularly in retail and creating long lasting brands to realize its potential and develop best practices. We intend to grow strategically thereby strengthening our presence via both online and offline channels," said Peyush Bansal, chief executive officer and founder, Lenskart.

Avendus Capital was the financial advisor to this transaction.

Lenskart was founded in 2010. It is into assembling, manufacturing, wholesale distribution and supply of eyewear products such as eyeglasses, power sunglasses and contact lenses.

Lenskart has adopted an omni-channel approach making eyewear available on desktop, mobile, hypermarkets, high streets, malls, hospitals and even at home.

Last year, Lenskart also started a free home eye check-up campaign where it sends a certified refractionist to a customer’s home, who also promotes spectacles and sunglasses.

The company claims that it has grown more than 200% year on year in the last two years.

With an employee strength of more than 900, Lenskart is present in over 100 stores across more than 66 cities in India.

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