SoftBank Vision Fund invests $275M in India’s Lenskart

Lenskart, an omni-channel retailer in India that sells eyewear products, said on Friday that it has raised $275 million in a new financing round from SoftBank Vision Fund as it looks to expand its business in the nation.

As part of the new financing round — dubbed Series G — some of the nine-year-old startup’s existing investors are selling their stake, said Peyush Bansal, founder and chief executive of Lenskart in an interview with TechCrunch.

The nine-year-old startup, which began as an e-commerce service to sell spectacles, contact lenses and eye care products, has expanded to brick and mortar stores in recent years.

Full Article