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LensPick raises funds to expand online presence

US-based Scadea Solutions has picked a 10% in the firm, at a valuation of $5 million

The two year old eye wear portal LensPick.com has raised second round of funding for inventory enhancement and technology upgradation as part of its plans to increase its online presence.

US-based Inc., has picked a 10 percent stake in LensPick.com at a valuation of $5 million, according to Venkart ECom Private Limited managing director Dileep C Byra, who is the promoter. The first round of funding was made by a Hyderabad-based HNI for a similar stake.

"The Rs 43,000 crore Indian industry offers a great opportunity for the specialised eye wear eCommerce portals. At LensPick.com we are aiming to reach 1,000 plus transactions per day in the next 2-3 years by enhancing the customer experience through a set of innovative initiatives," Byra told Business Standard.

provides eye testing facility at the doorsteps of customers in Hyderabad and Bengaluru, sends multiple pairs of frames to provide a choice at the time of delivery to the customers across India, extends buy-back offer for old spectacles, gives second frame as a complementary among other things.

While the LensKart, which is the market leader in the exclusive on-line eye-wear marketplace in India, had rolled out the off-line stores after its entry into business, started its journey as an off-line eye wear seller in 2011. The latter has 20 off-line stores in Hyderabad and Bengaluru and has plans to increase the number to 100 in the next 2-3 years covering other tier 1 and tier 2 cities mostly in South India.

The company is also planning to set up a chain of clinics for treating other eye-related problems and the first such clinic will be opened soon in the city, according to Dileep Byra.

Currently the off-line business contributes Rs 6 crore while the on-line retail business has been registering sales in the range of Rs 2.5 crore to Rs 3 crore per annum, according to the promoter.

is also in talks with US-based Eyenetra, which has come up with a smart-phone based eye testing gadget, to make eye-testing service at customers' door steps much more convenient and time saving by using machines developed by the team of MIT graduates.

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Business Standard
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Business Standard

LensPick raises funds to expand online presence

US-based Scadea Solutions has picked a 10% in the firm, at a valuation of $5 million

BS Reporter  |  Hyderabad 

LensPick raises funds to expand online presence

The two year old eye wear portal LensPick.com has raised second round of funding for inventory enhancement and technology upgradation as part of its plans to increase its online presence.

US-based Inc., has picked a 10 percent stake in LensPick.com at a valuation of $5 million, according to Venkart ECom Private Limited managing director Dileep C Byra, who is the promoter. The first round of funding was made by a Hyderabad-based HNI for a similar stake.

"The Rs 43,000 crore Indian industry offers a great opportunity for the specialised eye wear eCommerce portals. At LensPick.com we are aiming to reach 1,000 plus transactions per day in the next 2-3 years by enhancing the customer experience through a set of innovative initiatives," Byra told Business Standard.

provides eye testing facility at the doorsteps of customers in Hyderabad and Bengaluru, sends multiple pairs of frames to provide a choice at the time of delivery to the customers across India, extends buy-back offer for old spectacles, gives second frame as a complementary among other things.

While the LensKart, which is the market leader in the exclusive on-line eye-wear marketplace in India, had rolled out the off-line stores after its entry into business, started its journey as an off-line eye wear seller in 2011. The latter has 20 off-line stores in Hyderabad and Bengaluru and has plans to increase the number to 100 in the next 2-3 years covering other tier 1 and tier 2 cities mostly in South India.

The company is also planning to set up a chain of clinics for treating other eye-related problems and the first such clinic will be opened soon in the city, according to Dileep Byra.

Currently the off-line business contributes Rs 6 crore while the on-line retail business has been registering sales in the range of Rs 2.5 crore to Rs 3 crore per annum, according to the promoter.

is also in talks with US-based Eyenetra, which has come up with a smart-phone based eye testing gadget, to make eye-testing service at customers' door steps much more convenient and time saving by using machines developed by the team of MIT graduates.

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LensPick raises funds to expand online presence

US-based Scadea Solutions has picked a 10% in the firm, at a valuation of $5 million

US-based Scadea Solutions has picked a 10% in the firm, at a valuation of $5 million The two year old eye wear portal LensPick.com has raised second round of funding for inventory enhancement and technology upgradation as part of its plans to increase its online presence.

US-based Inc., has picked a 10 percent stake in LensPick.com at a valuation of $5 million, according to Venkart ECom Private Limited managing director Dileep C Byra, who is the promoter. The first round of funding was made by a Hyderabad-based HNI for a similar stake.

"The Rs 43,000 crore Indian industry offers a great opportunity for the specialised eye wear eCommerce portals. At LensPick.com we are aiming to reach 1,000 plus transactions per day in the next 2-3 years by enhancing the customer experience through a set of innovative initiatives," Byra told Business Standard.

provides eye testing facility at the doorsteps of customers in Hyderabad and Bengaluru, sends multiple pairs of frames to provide a choice at the time of delivery to the customers across India, extends buy-back offer for old spectacles, gives second frame as a complementary among other things.

While the LensKart, which is the market leader in the exclusive on-line eye-wear marketplace in India, had rolled out the off-line stores after its entry into business, started its journey as an off-line eye wear seller in 2011. The latter has 20 off-line stores in Hyderabad and Bengaluru and has plans to increase the number to 100 in the next 2-3 years covering other tier 1 and tier 2 cities mostly in South India.

The company is also planning to set up a chain of clinics for treating other eye-related problems and the first such clinic will be opened soon in the city, according to Dileep Byra.

Currently the off-line business contributes Rs 6 crore while the on-line retail business has been registering sales in the range of Rs 2.5 crore to Rs 3 crore per annum, according to the promoter.

is also in talks with US-based Eyenetra, which has come up with a smart-phone based eye testing gadget, to make eye-testing service at customers' door steps much more convenient and time saving by using machines developed by the team of MIT graduates.

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Business Standard
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