TangoEye, an AI-based computer vision startup, has been acquired by multi-channel eyewear brand Lenskart. The $500K was previously raised by Chennai-based Tango Eye in October 2020 under the leadership of Lenskart, Riso Investments, and Gaurav Gulati.
Through this acquisition, Lenskart hopes to enhance both the in-store and product experiences by utilizing visual artificial intelligence technology.
TangoEye, founded in 2018 by Surender Gounder, transforms video data into actionable insights that help retail stores boost sales, increase efficiency, and improve security. Retail eye, footfall analytics, sentiment & feedback analytics, manager eye, attendance, efficiency, secure eye, and an active alert on suspicious behavior are just a few of the products it offers.
Lenskart acquired a majority share in Owndays, a Japanese company, in June 2022. The Paris-based omnichannel eyewear company Le Petit Lunetier was also acquired by Lenskart’s subsidiary Neso Brands in September for a minority stake.
With 500 home eye test representatives and 2,000 physical locations throughout India, Singapore, Japan, Thailand, Taiwan, and the Middle East, Lenskart asserts its reach. The business completed a $500 million fundraising round in March and a $100 million round in June.
