Focus on bringing in good partners, not maximizing valuations: Lenskart’s Peyush Bansal
Live MintStartup founders should focus on getting the right partners and investors rather than maximizing valuations, as the latter is fairly short-term in nature, said Peyush Bansal, co-founder and chief executive of eyewear unicorn Lenskart, at the Bengaluru Tech Summit 2024 on Thursday. When we got investors like ADIA or Temasek, we knew these funds could stay with the company for 10 years,” Bansal said during a fireside chat with Prashanth Prakash, founding partner of early-stage venture capital firm Accel India. “Our engineering and optimization ecosystem allows us to be 10 times better at manufacturing than anyone else.” Moreover, Bansal noted India has the ability to solve global environmental problems, as its diverse tropical climate can help solve them at a low cost. The Gurugram-based company’s operating revenue rose 43% to ₹5,427 crore while expenses surged to ₹5,549 crore from ₹4,025 crore in 2022-23, showed financial statements sourced from business intelligence platform Tofler.
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