Peyush Bansal, co-founder and CEO of Lenskart, has revolutionized the Indian eyewear industry. From a modest startup to a $5 billion unicorn, Lenskart’s journey mirrors Bansal’s entrepreneurial spirit and vision. Beyond business, Bansal is recognized for his role as a judge on “Shark Tank India,” where he mentors budding entrepreneurs.(source)
Peyush Bansal: A Detailed Biography
Early Life and Education
- Birth: April 26, 1985, in New Delhi, India.
- Parents: Bal Kishan and Kiran Bansal.
- Education:
- Bachelor’s in Electrical Engineering from McGill University, Canada.
- Postgraduate program in Entrepreneurship from IIM Bangalore.(source)
Professional Journey
- Microsoft Tenure: Joined Microsoft in the USA as a Program Manager in 2007.
- Return to India: Left Microsoft in 2008 to pursue entrepreneurial ventures.
- Early Ventures:
- Founded SearchMyCampus.com in 2008, a classifieds platform for college students.
- Launched Flyrr.com in 2009, an eyewear e-commerce platform in the USA.(source)
Founding Lenskart
- Establishment: Co-founded Lenskart in 2010 with Amit Chaudhary and Sumeet Kapahi.
- Initial Focus: Started as an online platform for contact lenses.
- Expansion: Diversified into eyeglasses and sunglasses, adopting an omnichannel retail model.(source)
Personal Life
- Spouse: Nidhi Mittal, Chairperson of Lenskart Foundation.
- Children: One son, Ivan Bansal, born in May 2020.(source)
Lenskart: From Startup to Unicorn
Company Overview
- Founded:
- Headquarters: Gurugram, Haryana, India.
- Global Presence: Operations in India, Southeast Asia, Middle East, and the USA.
- Retail Footprint: Over 2,000 physical stores.(sources)
Business Model
- Vertical Integration: Designs, manufactures, and retails eyewear products.
- Omnichannel Approach: Combines online platforms with physical retail stores.
- Technological Innovations:
- Virtual try-on features.
- AI-driven eye measurement tools.(source)
Financial Milestones
- Unicorn Status: Achieved in 2019 with a valuation of $1.5 billion.
- Recent Valuation: Valued at $5 billion in 2024 after a $200 million investment from Temasek and Fidelity. (source)
Social Initiatives
- Eye Care Accessibility: Established over 700 eye checkup centers across India.
- Daily Eye Tests: Conducts approximately 15,000 eye tests per day. (source)
Peyush Bansal’s Net Worth and Investments
Net Worth
- Estimated Net Worth: ₹600 crore (~$75 million) as of 2023. (source)
Income Sources
- Salary: Annual income ranging between ₹14 crore to ₹16 crore.
- Investments:
- Invested in startups like Feedo and DailyObjects.
- Participated as an investor in “Shark Tank India,” investing in various startups.(source)
Personal Assets
- Luxury Vehicles: Owns cars from brands like BMW, Mercedes, Audi, and Land Rover. (source)
Timeline of Key Milestones
| Year | Milestone |
|---|---|
| 1985 | Born in New Delhi, India. |
| 2006 | Graduated from McGill University. |
| 2007 | Joined Microsoft as Program Manager. |
| 2008 | Returned to India; founded SearchMyCampus.com. |
| 2010 | Co-founded Lenskart. |
| 2011 | Expanded Lenskart’s product offerings. |
| 2019 | Lenskart achieved unicorn status. |
| 2021 | Became a judge on “Shark Tank India.” |
| 2024 | Lenskart valued at $5 billion. |
Frequently Asked Questions (FAQs)
Q1: What is Peyush Bansal’s educational background?
A1: Peyush Bansal holds a Bachelor’s degree in Electrical Engineering from McGill University and completed a postgraduate program in Entrepreneurship from IIM Bangalore.(source)
Q2: How did Lenskart start?
A2: Lenskart was founded in 2010 by Peyush Bansal, Amit Chaudhary, and Sumeet Kapahi as an online platform for contact lenses, later expanding into eyeglasses and sunglasses.(source)
Q3: What is Lenskart’s current valuation?
A3: As of 2024, Lenskart is valued at $5 billion following a $200 million investment from Temasek and Fidelity. (Reuters)
Q4: What are some of Peyush Bansal’s notable investments?
A4: Peyush Bansal has invested in startups like Feedo, DailyObjects, and has been an active investor on “Shark Tank India.”(InHustler)
Q5: What social initiatives has Lenskart undertaken?
A5: Lenskart has established over 700 eye checkup
Last Updated on: Monday, May 5, 2025 1:23 pm by BUSINESS SAGA TEAM | Published by: BUSINESS SAGA TEAM on Monday, May 5, 2025 1:23 pm | News Categories: Business Saga News, Trending News
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