Lenskart invests in Thin Optics Inc.- A California based Start
Chennai, May 7th, 2018 – Lenskart Solutions invests 0.5 Million USD in a California-based start-up ThinOptics Inc. that makes innovative reading glasses that stick on your nose; you can attach them to your phone, key chain, laptop, such that you never forget them.
ThinOptics has a patented designs that allows reading glasses to stay on your nose and you can tweak/mould them to get the best fit. These glasses have no temples, are super slim and look so cool that one can't not notice them on the face.
Announcing the investment, Peyush Bansal, CEO, Lenskart said: “ThinOptics is a revolutionary product that solves the problem of people forgetting to carry their reading glasses everywhere and often losing them too. At Lenskart, our vision is to revolutionize eyewear and, hence, this investment fits that vision. We have been testing ThinOptics with Indian consumers for last few months and the response has been phenomenal. Almost all users come back and order a second pair! With this investment, we intend to work closely with ThinOptics’ California team for growing the India market as well as bringing more innovations in this area. I am excited about this investment.”
“We’ve been partners with Lenskart since 2015, and have been so pleased with the progress we’ve made together in the India market, we elected to deepen our relationship in 2018,” says David Westendorf, ThinOptics CEO. “With this Lenskart investment, we will continue to evolve our product portfolio to serve the sophisticated needs of India eyewear customers. We will be making several new product announcements in the coming months that deliver on our brand promise to always have our glasses within reach, on the items you never leave home without: your phone, your wallet and keys.”
This is Lenskart's third investment in less than a year. The company, in September 2017, invested in Ditto, which is an augmented reality technology for trying frames online. Just recently, Lenskart also invested in 6 over6, an Israel based start-up, working on enabling eye exams through the Android phone. The company is clearly going after innovation centered around eyewear and has made a dominant mark in the Indian eyewear industry.
Lenskart is now the largest optical retailer in the country with 5 million plus App downloads, 410 stores, 200 home opticians. Company claims to ship 300,000 eyewear per month which is the largest in the country now.
Thin Optics products are now available on Lenskart website and App.