Lenskart

Lenskart Solutions Limited

Company type	Public
Industry	Eyewear
Founded	May 2008 (2008-05)
Founder	Peyush Bansal
Headquarters	Gurgaon , India
Area served	Global
Key people	Peyush Bansal (Founder)
Products	Prescription and non-prescription eyewear, eyeglasses, sunglasses, contact lenses
Website	www.lenskart.com

Lenskart Solutions Limited is a global eyewear enterprise based in Gurgaon, India. Functioning as a vertically integrated entity, it handles the design, production, distribution, and retail of both prescription and non-prescription eyewear. Its merchandise is available through an online platform, a mobile application, and more than 2,000 brick-and-mortar outlets.

The company’s manufacturing unit is situated in Bhiwadi, Rajasthan, with an annual output capacity reaching 50 million pairs of glasses.

History

The firm was established in May 2008 by Peyush Bansal under the name Valyoo Technologies. Initially, it operated SearchMyCampus.com, a classifieds portal for college students. In 2009, Amit Chaudhary joined as co-founder, and the company launched Flyrr.com, an eyewear e-commerce site targeting the US market. Both platforms were closed in November 2010 to focus on Lenskart.com, which began by offering contact lenses to Indian consumers before expanding to eyeglasses and sunglasses by early 2011. Sumeet Kapahi became the third co-founder in September 2011.

During 2011 and 2012, the company introduced Watchkart.com, Bagskart.com, and Jewelskart.com based on IDG Ventures India's recommendation to replicate the Titan Company’s model. However, by late 2014, Lenskart.com was the sole surviving venture after the firm withdrew from other categories to concentrate exclusively on eyewear. In 2015, Valyoo Technologies was rebranded as Lenskart Solutions.

In 2017, Lenskart launched its eyewear label John Jacobs. That October marked the appointment of its first brand ambassador, Katrina Kaif. Later, in March 2019, Bhuvan Bam became the company’s inaugural male brand ambassador.

In June 2022, Lenskart secured a controlling interest in Japanese eyewear company Owndays through a cash-and-stock transaction valuing Owndays at around $400 million. The merged organization reported combined annual revenues of $650 million, with Owndays contributing $250 million.

In 2024, franchise operators accused Lenskart of unfair competition practices by opening company-run stores near franchise locations. Several franchisees in Karnataka filed an FIR alleging financial irregularities and improper use of accounting software. The Economic Offences Wing commenced an inquiry; however, in January 2025, Lenskart obtained a legal stay from the Karnataka High Court.

In 2025, Lenskart acquired an 80% ownership stake in Spanish eyewear brand Meller for over €40 million.

Funding

Lenskart received a $4 million investment from IDG Ventures India in 2011. By January 2015, it had raised ₹135 crore from TPG Growth, TR Capital, and IDG Ventures India. In May 2016, International Finance Corporation, Adveq Management, TPG Growth, and IDG Ventures India collectively infused $60 million; additional investments came from Ratan Tata and Kris Gopalakrishnan. Later that year, Azim Premji of Wipro invested approximately ₹200 crore via PremjiInvest.

The company surpassed a $1 billion valuation in December 2019 after securing $275 million from SoftBank Vision Fund. KKR invested $95 million in May 2021. Subsequently, Temasek and Falcon Edge Capital led a $220 million funding round in July 2021 that valued Lenskart at $2.5 billion. In July 2022, Alpha Wave Global spearheaded a $200 million round boosting the valuation to $4.5 billion.

In March 2023, Abu Dhabi Investment Authority contributed $500 million at a valuation of $4.5 billion. By June that year, ChrysCapital invested $100 million. In June 2024, Temasek and Fidelity Investments participated in a secondary transaction worth $200 million that set the company’s valuation at $5 billion.

Lenskart initiated its initial public offering in October 2025 with plans to raise up to $828 million to fuel its expansion as a premier eyewear retailer.