BENGALURU: Online marketplace for eye-wear, Lenspic was at a valuation of $5 million and has raised undisclosed amount of funding from US-based Scadea Solutions Inc.
The company plans to use the fresh capital for enhancing inventory and to upgrade technology, as part of its plans to scale-up its online presence.
According to Venkart ECom Private Limited Managing Director – Dileep C Byra, Scadea Solutions has picked up 10% stake of Lenspick at a valuation of $5 million, as per Business Standard reports.
According to sources and reports by Business-Standard, Byra said, “The Rs 43,000 crore Indian eyewear 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”.
LensPick was founded in 2011 as an offline retail company and is headquartered in Bengaluru. The company entered online marketplace in 2013. Lens Pick is created under the vision of empowering the eye wear style, shopping online for sunglasses for men, women, Contact Lenses and Lens solution. The company have brands like Ray-Ban, Vogue, Oxydo, Lee Cooper, IDEE, Gunnar, Vincent Chase, Oakley, Carrera, Boss Orange, John Jacobs, Marc by Marc Jacobsamong others.