SoftBank-Backed Lenskart Raises $220 Million as India Tech Booms
- Eyewear startup is now valued at $2.5 billion, founder says
- Former Microsoft engineer returns home to build startup
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India’s Lenskart, an online retailer for eyewear, raised $220 million from investors including Temasek Holdings Pte and Falcon Edge Capital, in another sign of booming interest in the country’s technology startups.
Founded by Peyush Bansal in 2010, the company sells eyeglasses, contact lenses and sunglasses online and through about 750 retail outlets in the country. It plans to use the capital, along with $95 million raised earlier this year from KKR & Co., to expand online sales and add brick-and-mortar stores in India, as well as in Southeast Asia and the Middle East.