The omnichannel eyewear retailer Lenskart on Friday said the company is raising over $275 million (nearly Rs 1,956 crore) from Softbank Vision Fund.

The investment will be utilised for augmenting Lenskart's tech capabilities and strengthening its supply chain infrastructure. Avendus Capital was the financial advisor for this transaction.

Peyush Bansal, founder and chief executive officer of Lenskart said, "Our strategy is to continuously push the bar in customer experience and surprise our customers. A large part of this investment will go towards building next-generation technology and supply chain to deliver the next billion glasses with the highest quality at the best price and most amazing customer experience. We are thrilled to have Softbank Vision Fund with us in our journey."

Founded in 2010, Lenskart has a presence in offline retail through over 500 stores across more than 100 cities in the country. Lenskart counts among its investor's names like Ratan Tata, PremjiInvest, IFC (venture capital arm of the World Bank), TPG Growth, IDG Ventures, Unilazer Ventures and Adveq.

First Published:Dec 20, 2019 8:14 PM IST