US-based eyewear e-commerce startup, Ditto.com received $1 million from online shopping portal for eyewear, Lenskart. As the part of the investment, Lenskart has received minority stake in the firm.
With its latest investment in Ditto, Lenskart is expected to further integrate 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 eyeglasses on social media platforms.
Commenting on ishe development, Lenskart’s founder and CEO Peyush Bansal, said:
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 every day. We have been evaluating our relationship and now want to take it to the next level.
Ditto is a venture-backed technology company, which licenses software to eyewear retailers globally. It enables customers to create a video of their face from phone, webcam or in-store kiosk to virtually try-on glasses, get a face analysis and personal frame recommendations.
Founded in 2010, Lenskart is a leading online retailer of premium quality and stylish eyewear, offering over 10,000 different styles to suit all pocket sizes and diverse consumer needs. It also offers services like Free Home Eye check-up and Free Home Trial.
Lenskart 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 makes their choice based on what suits their face cut and requirement the best.
The company claims to be the 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 e-commerce business.
The company also claims to have the biggest collection of discounted contact lenses consisting all top-notch brands. Since it believes in providing its customers with a variety of options to choose from, they have disposable, toric, colored or bifocal contact lenses, basically all possible types available to choose from.
Lenskart is also reportedly planning to increase its stake in the future and take its company to a whole other level. The company 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.