Peyush Bansal, CEO of Lenskart, received the Startup of the Year award at the tenth edition of The Economic Times Startup Awards (ETSA) 2024 in Bengaluru. The event honored top entrepreneurs, policymakers, and investors in the Indian startup ecosystem. Union Minister Ashwini Vaishnaw attended as the guest of honor.
Lenskart was recognized for its significant impact on the eyewear market and rapid expansion. Other notable award winners included Mukul Arora for the Midas Touch award, Brainsight AI as Top Innovator, Rentomojo as Comeback Kid, Hardika Shah of Kinara Capital for the Woman Ahead prize, ClaimBuddy for Best on Campus, Aniket Doegar of Haqdarshak for the Social Enterprise award, and Boult as Bootstrap Champ. Keynote speakers included Deepinder Goyal of Zomato, Subrata Mitra of Accel, and Nandan Nilekani.
They discussed various topics related to the startup ecosystem in India. The event celebrated the resilience and innovation driving India’s economy forward.
Lenskart’s market impact and expansion
Many founders shared insights into their journeys and future aspirations. Lenskart plans to invest $200 million in a new manufacturing unit in Rajasthan to enhance speedy delivery and scale up exports. CEO Peyush Bansal said this move will help the company reach a revenue run-rate of $1 billion for the current fiscal year.
Lenskart also aims to establish another manufacturing unit in South India to bolster production and cater to international markets. The focus on made-in-India products has streamlined operations domestically and opened doors to lucrative international markets. At a notable startup event in 2024, many founders, including Peyush Bansal of Lenskart and Kalyan Krishnamurthy of Flipkart, donned trendy sneakers, highlighting the casual yet dynamic spirit of the event.
The event celebrated the most innovative and forward-thinking startups poised to redefine industries and change the world. The atmosphere was charged with excitement as founders exchanged ideas and showcased their cutting-edge products and services. The event underscored the importance of comfort, individuality, and style, proving that sneakers are not just a trend but a statement of the startup culture that values innovation and authenticity.
