Lenskart plans to invest around $2 million in start-ups through ‘Vision Fund
Eyewear brand Lenskart has launched its ‘Vision Fund’ through which it plans to invest around $2 million (Rs 15 crore) in selected start-ups in the eyewear sector.
In addition to the funding, Lenskart will also offer the selected start-ups a platform to sell its products through its retail stores and online channels across India, Singapore, Middle East, and the U.S.
Since the initiative is designed to help start-ups scale, Lenskart will select early-growth stage ventures with clear in-market evidence of traction and customer adoption.
Commenting on the Vision Fund initiative, Peyush Bansal, founder and chief executive officer of Lenskart, in a statement said: “We have traversed the challenging journey as a start-up to become a unicorn. We believe it is time to give back to the ecosystem and support exceptional entrepreneurs by helping them build scalable enterprises. We have a decade of experience and expertise in building and scaling a direct-to-customer (D2C) business through technology which can be leveraged by start-ups to realise their vision of building world-class businesses.”
Founded in 2010 by Peyush Bansal, Lenskart is an omnichannel retailer and manufacturer of eyewear accessories. The company recently announced its plans to restart its brick-and-mortar expansion across India and will open over 300 stores to bring its total to over 1,000.
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