Online eyewear e-tailer, Lenskart has invested $1 million in the US-based startup Ditto for a minority stake. Ditto provides 3D face modelling for virtual trial service to eyewear retailers to improve their customer experience.
Lenskart is an old client of Ditto’s 3D try-on services and employs on its website and app. Further integration will help the company enhance its online engagement with consumers, wherein they can share different pictures of themselves trying various eyeglasses, with their friends and relatives on social media.
Commenting on the announcement, Peyush Bansal, Founder and CEO, Lenskart.com said “Lenskart as a company has always believed in constantly innovating and leveraging the technology interface to give customers a best in class experience. Ditto provides us with the patented 3D virtual try-on technology that allows customers to see themselves in eyewear in 180° angles with realism. 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. With this association, Ditto has now become a strategic partner for Lenskart and we certainly believe this will help us achieve a wider and more satisfied customer base.”
Ditto, which is operated by Ditto Technologies Inc, was founded by Stanford Graduate School of Business alumnus Kate Endress, former Google executive Sergey Surkov and former Nokia executive Dmitry Kornilov. In 2012, it raised $3 million from a group of investors led by August Capital.
Lenskart, which was founded in 2008, is promoted by Bansal, Amit Chaudhary, Neha Bansal and Sumeet Kapahi. In addition to the online platform, it has a wholesale division which is engaged in assembly, distribution and supply of eyewear products.
The startup has already garnered fundings from some of the industry’s best venture capitalists like IDG Ventures, Ronnie Screwvala-led Unilazer Ventures, IFC, Premji Invest, TPG Growth and TR Capita etc.