Companies

Lenskart launches fund to back early-growth start-ups

Our Bureau New Delhi | Updated on June 25, 2021

To invest up to $2 mn in selected start-ups that are synergistic to the eyewear, eye-care and omni-channel retail sectors

Omni-channel D2C eyewear brand Lenskart on Friday announced the launch of a fund to back start-ups in the eyewear space.

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The Lenskart Vision Fund plans to invest up to $2 million in each of the selected start-ups that are synergistic to the eyewear, eye-care and omni-channel retail sectors.

“In addition to the infusion of capital, select start-ups will benefit from Lenskart’s phenomenal market access via 700+ retail stores and online channels across India, Singapore, Middle-East and the US,” it added in a statement.

Peyush Bansal, Founder and CEO of Lenskart said, “We have traversed the challenging journey as a start-up to become a unicorn. We believe it’s time to give back to the ecosystem and support exceptional entrepreneurs by helping them build scalable enterprises. We have a decade of experience and expertise in building and scaling a D2C business through technology which can be leveraged by start-ups to realise their vision of building world class businesses.”

The fund will look at investing in early-growth stage ventures with clear in-market evidence of traction and customer adoption, the company added.

Selected start-ups will have access to Lenskart’s vertically integrated supply chain, technology stack for facilitating omni channel retail and tech expertise in building futuristic technologies for eyewear.

The leadership team of the D2C brand will also mentor the start-ups to navigate the challenges in scaling up.

Published on June 25, 2021

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