Lenskart to invest heavily in eye care solutions start-ups

The eyewear brand Lenskart announced on May 7 that it has planned to invest between two and three million US dollars (approximately between 13.3 and 20 crore rupees) in start-up businesses specialising in eye care technology.


Lenskart announced on May 7 that it has planned to invest between two and three million US dollars in eye-tech - Lenskart- Facebook

In a recent statement, the Founder and CEO of Lenskart, Peyush Bansal, said: "We will invest about USD 2-3 million... These companies could be a tech or product company working on eyecare solutions, be it an innovative eye examination machine or some kind of a lens technology."

Lenskart recently invested 500,000 US dollars (approximately 3.3 crore rupees) in an “eye-tech” business based in the US called ThinOptics. "These are light reading glasses and can be easily carried around at the back of a smartphone or on a keychain,” said Bansal. “We are already shipping ThinOptics' glasses and have seen great traction in sales." Bansal also added that sales of reading glasses make up around five percent of the business’ overall sales.

The business, backed by Ratan Tata, has also invested in 6over6, a business based in Israel that allows customers to use a smartphone app to find out what power of glasses they need. Lenskart invested one million dollars (approximately 6.7 crore rupees) in the business.

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