ChrysCapital invests $100m in Lenskart

Private equity firm, ChrysCapital, announced a $100m investment in eyewear company Lenskart. 

This latest investment from ChrysCapital brings Lenskart’s total capital infusion to nearly $850m within the past year, the statement added. Lenskart, which has 20m customers, is also expanding internationally across Asia and the Middle East, it said.

The company is undergoing a vertical integration exercise with a new manufacturing facility that will help it keep prices competitive and aid in delivery time, it said.

Get the week’s top news delivered directly to your inbox – Sign up for our newsletter

Incidences of myopia are rapidly growing globally, especially in Asia, including India, with big unsolved problems of access, affordability, and awareness, Lenskart’s founder and chief executive, Peyush Bansal said.

With the help of technology, customer centricity, and big investments in supply chain and talent, the company can help eradicate the problem of vision correction, he claimed.

Source:  Zee Business

Can’t stop reading? Read more