Lenskart is India's fastest growing optical business. The company was co-founded in 2010 by Peyush Bansal, Amit Chaudhary & Sumeet Kapahi to provide Vision to India. 1/3rd of India's population today needs vision correction and only 25% of those in need wear specs. Lenskart was founded in 2010 with a vision to solve this problem of eye wear and be the Numero Uno eyewear provider in India. With technology integration into the eyewear vertical, and keeping a deep focus on consumer happiness, Lenskart has grown more than 200% Year on Year in the last 2 years to be among the top 3 Optical Retail businesses of India today. With a 600 people team and revenues of slightly over 100 Cr, the company is continuing to grow 15% MOM and changing the landscape of Indian eyewear with its very unique services and products such as:
Majority of Lenskart eye-frames and prescription lenses are designed in-house and come to consumer directly from manufacturing to retail. Post a spectacle order is received, each frame is individually fitted with the respective prescription in company's own in-house state-of-the-art (first in India) manufacturing facility, before it is dispatched. By owning the process end to end, company not only provides 1 year warranty on all products sold but also a significant 50% price benefit over any other optical chain in India. Lenskart raised its first round of funding of 22 Cr INR from IDG Ventures India (IDGVI) in 2011 when company was selling 30 specs a day online. In 2013, when company was selling nearly 200 specs online per day, Ronnie Screwvala led Unilazer Ventures, along with IDG again, invested around INR 53 crores in the company. Today Lenskart is making nearly 2000 specs a day shipped pan India and has so far shipped over 10 Lac specs across the country. Company has recently raised Private equity investment from TPG Growth of 22 million USD to fulfill its vision to be India's Number One eyewear provider by 2016.