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Sushmit Chakraborty
Sushmit Chakraborty

Peyush Bansal obtained degrees from McGill University and IIM Bangalore. He founded Valyoo Technologies and launched the first business portal SearchMyCampus, which was successful. He then launched the online eyewear store Flyrr.com in the U.S. Wanting to test the Indian e-commerce market, in 2010 he launched Lenskart, India's first online eyewear shopping portal. Lenskart has received two rounds of funding totaling over $33 million from investors like IDG Ventures India and Unilazer Ventures. The reasons for Lenskart's success include offering products for all ages, a large selection, reasonable pricing, discounts, convenient payment

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THE STORY OF LENSKART Peyush Bansal is the founder of Lenskart. He obtained a degree in Bachelor of Engineering from McGill University in Canada, after which he worked as a Program Manager at Microsoft in America. A year later, he returned to India to pursue his Post-Graduate diploma in Management for Executives from IIM, Bangalore. In 2008, he set up Valyoo Technologies with SearchMyCampus as the first business portal. Although searchmycampus.com was a hit, Bansal ventured into the e- commerce world. He launched Flyrr.com. An online shopping portal, based in the U.S, which exclusively sold eyewear. After the success of searchmycampus.com & Flyrr.com, Bansal wanted to test the waters of the Indian e-commerce scenario. In 2010, Lenskart, a first of its kind online shopping portal for eyewear came into existence.
FUNDING Lenskart has so far secured two rounds of VC funding. Raised its first round of funding of INR 22 crore (U.S $3.6 million) from IDG Ventures India in 2011. In February 2013, Unilazer Ventures invested INR 30 crores in their first e- commerce portfolio. Reasons Behind the Success of Lenskart Not age specific Lenskart offers products that are suitable for all age groups. Provides a large selection of eyewear to choose from. Detailed descriptions and specifications of the products on the website. Products are priced reasonably. Offers discounts and attractive deals. Convenient payment options where one can choose to pay online or opt for Cash-on-delivery (CoD). No questions asked return policy.

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Sushmit_chakraborty_14

  • 1. THE STORY OF LENSKART Peyush Bansal is the founder of Lenskart. He obtained a degree in Bachelor of Engineering from McGill University in Canada, after which he worked as a Program Manager at Microsoft in America. A year later, he returned to India to pursue his Post-Graduate diploma in Management for Executives from IIM, Bangalore. In 2008, he set up Valyoo Technologies with SearchMyCampus as the first business portal. Although searchmycampus.com was a hit, Bansal ventured into the e- commerce world. He launched Flyrr.com. An online shopping portal, based in the U.S, which exclusively sold eyewear. After the success of searchmycampus.com & Flyrr.com, Bansal wanted to test the waters of the Indian e-commerce scenario. In 2010, Lenskart, a first of its kind online shopping portal for eyewear came into existence.
  • 2. FUNDING Lenskart has so far secured two rounds of VC funding. Raised its first round of funding of INR 22 crore (U.S $3.6 million) from IDG Ventures India in 2011. In February 2013, Unilazer Ventures invested INR 30 crores in their first e- commerce portfolio. Reasons Behind the Success of Lenskart Not age specific Lenskart offers products that are suitable for all age groups. Provides a large selection of eyewear to choose from. Detailed descriptions and specifications of the products on the website. Products are priced reasonably. Offers discounts and attractive deals. Convenient payment options where one can choose to pay online or opt for Cash-on-delivery (CoD). No questions asked return policy.