India’s leading online shopping portal for eyewear, Lenskart, has pumped in a whopping $1 million in US-based eyewear e-commerce startup, Ditto.com to pick up a minority stake in the firm.
Lenskart, which is doing good business and has grown more than 200 per cent year on year, already makes use of Ditto's 3D try-on tech on its website and app. The tech allows customers to virtual try-on eyewear and make their choice based on what suits their face cut and requirement the best.
Lenskart claims to be a first of its kind online optical store in India that has made it possible to acquire a good quality pair of specs with prescription lenses for just Rs. 399, all this while you sit in the comfort of your home. With a 48-hour free home delivery guarantee and 365 days return policy, Lenskart.com has been able to establish a great reputation in the eyewear ecommerce business.
Lenskart.com also claims to have the biggest collection of discounted contact lenses consisting all top-notch brands (viz. Johnson & Johnson, Bausch & Lomb, Ciba Vision are to name a few). Since it believes in providing its customers with variety of options to choose from, they have disposable, toric, coloured or bi-focal contact lenses, basically all possible types available to choose from.
With its latest investment in Ditto, one could foresee a future where Lenskart further integrates Ditto’s tech on its platform to help better its online engagement with consumers, wherein users will be able to share different pictures of themselves trying out various eye glasses on social media platforms.
"Ditto provides us with the patented 3D virtual try-on technology... So far, the response to this service is commendable with over 10,000 trials everyday. We have been evaluating our relationship and now want to take it to the next level," said Lenskart.com Founder and CEO Peyush Bansal in a statement to PTI.
One thing that the Ditto investment tells us, is that, Lenskart is all set to increase its stake in the future and take its company to a whole other level. The Faridabad, Haryana-headquartered startup, which started its journey ten years back in 2010, has already garnered fundings from celebrated venture capitalists like IDG Ventures, Ronnie Screwvala-led Unilazer Ventures, IFC, Premji Invest, TPG Growth and TR Capita etc.
This development was first reported in Economic Times.
Lenskart, which is doing good business and has grown more than 200 per cent year on year, already makes use of Ditto's 3D try-on tech on its website and app. The tech allows customers to virtual try-on eyewear and make their choice based on what suits their face cut and requirement the best.
Lenskart claims to be a first of its kind online optical store in India that has made it possible to acquire a good quality pair of specs with prescription lenses for just Rs. 399, all this while you sit in the comfort of your home. With a 48-hour free home delivery guarantee and 365 days return policy, Lenskart.com has been able to establish a great reputation in the eyewear ecommerce business.
Lenskart.com also claims to have the biggest collection of discounted contact lenses consisting all top-notch brands (viz. Johnson & Johnson, Bausch & Lomb, Ciba Vision are to name a few). Since it believes in providing its customers with variety of options to choose from, they have disposable, toric, coloured or bi-focal contact lenses, basically all possible types available to choose from.
With its latest investment in Ditto, one could foresee a future where Lenskart further integrates Ditto’s tech on its platform to help better its online engagement with consumers, wherein users will be able to share different pictures of themselves trying out various eye glasses on social media platforms.
"Ditto provides us with the patented 3D virtual try-on technology... So far, the response to this service is commendable with over 10,000 trials everyday. We have been evaluating our relationship and now want to take it to the next level," said Lenskart.com Founder and CEO Peyush Bansal in a statement to PTI.
One thing that the Ditto investment tells us, is that, Lenskart is all set to increase its stake in the future and take its company to a whole other level. The Faridabad, Haryana-headquartered startup, which started its journey ten years back in 2010, has already garnered fundings from celebrated venture capitalists like IDG Ventures, Ronnie Screwvala-led Unilazer Ventures, IFC, Premji Invest, TPG Growth and TR Capita etc.
This development was first reported in Economic Times.
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