Lenskart acquihires DailyJoy- an essential delivery start-up to strengthen operations

Opens its technology centre in Hyderabad 

- Customers in India now have further access to Lenskart’s world-class eye wear offerings 

- Significant innovations to come from the Hyderabad technology center to further improve  customer experience on both online and offline fronts 

- With this the brand looks to hire 100+ people in the next 6 months ranging across verticals 

india 27th April 2020: Lenskart, India’s fastest growing omni-channel eye-wear brand, inaugurates its new  technology centre in India. The company has acquihired Hyderabad based DailyJoy, that will enhance the  technology and innovation capability for the brand. To accelerate the on-goings, Lenskart is also looking  to hire 100+ people, across engineering, product & design in the coming 6 months. 

Equipped with world-class and state-of-the-art systems and processes, the tech-hub will empower  Lenskart’s continuing innovation on Omni-channel technology, giving shopping across channels a much  seamless experience. With this step, Lenskart is looking forward on stationing high-quality engineering  talent in the vertical, focusing to facilitate offline buying experience at home with technologies like  augmented reality, computer vision and machine learning. With ‘value pricing’ being the core of Lenskart’s  brand proposition, the team is working on building a true headless commerce engine which enhances  capability to reach to customers via many new channels and building supply chain tech which is able to  guarantee delivery of a make to order product via production facilities 

The enthusiastic team of professionals at DailyJoy with expertise in product, design & technology, has  been together for more than 5yrs and has launched 3 startups so far, the latest being in the B2C daily  needs space. The team strongly aligns with Lenskart’s competencies and values such as entrepreneurship,  10x Thinking & customer obsession. These competencies and attributes make the acquisition an excellent  fit for Lenskart and its mission. The team also has expertise in building and managing new initiatives cross borders which will be a great asset for Lenskart's growth journey. 

The new Hyderabad tech-hub will provide employment to more than 100 engineers in various teams across product, design and development, quality engineering, front end developers, java developers,  android and IOS developers, data science engineers. It will be dedicated towards delivering world class  engineering solutions to support Lenskart in expanding its footprint domestically & internationally. It will  also expedite building cutting-edge modern innovations which will enhance customer's buying experience  and seamless consumer support system via automated bots for providing post purchase experience to  customers.

Commenting on the announcement, Mr. Ramneek Khurana, Co-founder, Lenskart, said, “We are  immensely excited to inaugurate the new tech-centre in Hyderabad & have Satish and his team onboard.  With deep experience of setting up and building tech startups he is the right fit for Lenskart and its mission. The Hyderabad team will be at the forefront of engineering, new initiatives & innovation. We plan to  double our current 150 member technology team with new recruitments in engineering, product, and data  science functions, in the next 6 months. We want to make Hyderabad a base for quality and consistent  engineering to support the high-growth phase of the company. The team expects to station mature  technology leaders & young local talent with 10x thinking that can spearhead this growth with focus,  energy, and innovation”. Sharing his views on the acquisition, Mr. Satish Sharma, ex-CEO, DailyJoy: We are delighted to be a part  of Lenskart and its team of highly experienced, visionaries and tech savvy professionals. It is our pleasure  to share the same core values, vision, mission and focus as us. As we join hands, it will be our endeavor to  synchronize our synergies with Lenskart and add value to

remarkable journey going forward in the  ever evolving eye-wear industry. Looking forward to great days ahead!” 

With the commencement of this venture, Lenskart gears up for their upcoming project of expanding its  store & online foot print significantly, also testing out multiple geographies and looks to create lead in  augmented reality technology & recommendations by the end of this year. Lenskart has a growing retail  and e-commerce presence going deep into existing market in India & Singapore, while opening up new  locations in middle-east and the USA 

About Lenskart: Founded in 2010, Lenskart is India’s largest online retailer of premium quality and stylish  eyewear, offering over 10,000 different styles to suit all pocket sizes and diverse consumer needs. With a  unique click and mortar business, Lenskart is revolutionizing the eyewear industry by offering disruptive  services like Free Home Eye check-up, 3D Try On, Free Home Trial and First Frame Free among others.  Through innovative technology and a deep focus on consumer satisfaction, Lenskart has grown more than  200% year on year in the last 2 years, to be among the top 3 optical businesses in India. With a rapidly  growing employee strength of more than 1000+, Lenskart is present in over 500+ stores across more than  66 cities in India. The company entered the unicorn club in 2020, after raising INR 1,645 Cr ($231 Mn)  from SoftBank Vision Fund II, Lightbulb Ltd as part of its Series G funding round. In the past it has been  funded by three venture capitalists till date, namely IDG Ventures($4 million in October 2011) and Ronnie  Screwvala-led Unilazer Ventures ($10 million in February 2013) and TPG Growth & TR Capital ($22 million  in January 2015).