Eyewear retailer Lenskart has announced that it has raised over USD 275 million in Series G funding round led by SoftBank Vision Fund.

The funding round was also participated by some stake sale from early investors.

“The investment will be utilised for augmenting Lenskart’s tech capabilities and strengthening its supply chain infrastructure,” the company said in a statement.

As per the media reports, with this new funding, the company valuation now comes down to at around USD 1.5 billion.

The company has been already in discussion with SoftBank Vision Fund this year to raise the funding of about USD 350 million at the valuation of USD 1 billion and upwards.

“A large part of this investment will go towards building next-generation technology and supply chain to deliver the next billion glasses with the highest quality at the best price and most amazing customer experience. We are thrilled to have SoftBank Vision Fund with us in our journey. Their understanding of consumer and technology will help us build the next edition of Lenskart,” said Peyush Bansal, Founder, and CEO of Lenskart.