Lenskart has raised Rs 24 crore from Media entrepreneur-turned-investor Ronnie Screwvala’s Unilazer Ventures through a secondary transaction.
With this, Unilazer’s cumulative investment in Lenskart brings to about Rs. 100 crore and it now holds a 19% stake in the company while Lenskart co-founders Peyush Bansal and Amit Chaudhary hold 20%.
Lenskart has an annualised revenue run rate of over Rs.350 crore, with a target of reaching Rs. 2,500 crore in the next four years, and is aggressively building an omni-channel play and take on Titan, which is also eyeing an online-retail play for its eyewear business. According to Bansal, the company expects to be profitable by FY18, around which time it expects its store strength to reach 500 from about 250 now.