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Lenskart raises Rs 200 crore from Wipro Founder Azim Premji’s investment office

In May, the company had raised Rs 400 crore in its Series D round of funding, which was led by the World Bank’s International Finance Corporation.

Online retailer Lenskart Solutions Pvt Ltd has raised Rs 200 crore from Premji Invest, the investment office of Wipro Founder Azim Premji, The Economic Times reported on Wednesday. The fresh round of funding comes just four months after the company raised Rs 400 crore in its Series D round of funding led by the World Bank's International Finance Corporation, according to Mint.

Lenskart chief executive and founder Peyush Bansal said that the retailer will use the investment to “grow strategically” and improve its presence “via both online and offline channels”. He added that the company will use its partnership with Premji Invest to gain “extensive experience, particularly in retail and creating long lasting brands to realise its potential and develop best practices”. The funding is Premji’s newest investment in the retail sector, with the office having earlier financed companies like Fabindia, Myntra and Future Lifestyle, according to The Financial Express.

The company, which claims to have had a 200% year-on-year growth rate in the last two years, employs more than 900 people and is present in over 100 stores across 66 cities in India. It deals in the manufacturing, supply and wholesale distribution of eyewear products like spectacles, power sunglasses and contact lenses. Companies and individuals like IDG Ventures, Ratan Tata and Infosys co-founder S Gopalakrishnan have invested in the company as well, according to Express.

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Children's Day is not for children alone

It’s also a time for adults to revisit their childhood.

Most adults look at childhood wistfully, as a time when the biggest worry was a scraped knee, every adult was a source of chocolate and every fight lasted only till the next playtime. Since time immemorial, children seem to have nailed the art of being joyful, and adults can learn a thing or two about stress-free living from them. Now it’s that time of the year again when children are celebrated for...simply being children, and let it serve as a timely reminder for adults to board that imaginary time machine and revisit their childhood. If you’re unable to unbuckle yourself from your adult seat, here is some inspiration.

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This article was produced by the Scroll marketing team on behalf of SBI Life and not by the Scroll editorial team.