The AI-based computer vision business Tango Eye was acquired by Lenskart on Monday.
Through this acquisition, Lenskart hopes to enhance both the in-store and product experiences by utilizing visual artificial intelligence technology. The acquisition reinforces Lenskart’s dedication to using technology to address business problems and satisfy customers, as the company has previously been an early investment in Tango.
“We have now brought the technology inside our production, where we are using AI to provide far more dependable quality standards. Peyush Bansal, co-founder and CEO of Lenskart, said in a statement, “I am thrilled about the partnership with Suren and Tango Eye in helping us redefine consumer experience.”
Tango AI technology is used in stores to analyze CCTV footage in order to provide analytics, optimize consumer flow, and guarantee that all procedures are followed correctly. Similarly, Lenskart is using Tango AI technology to aid automate quality tests for its lenses and spectacles in its manufacturing facilities.
“To increase the consistency of our company’s processes, we are now utilizing our technology outside of the retail space. The creator and CEO of Tango Eye, Suren Gounder, stated, “We hope to invest a lot more into our technology and talent with Lenskart as a partner.”
Additionally, Lenskart co-founder Ramneek Khurana stated that the company “is envisioning a seamless transition between digital and physical touchpoints by teaming up with Tango Eye.”
Founded in 2010, Lenskart is an IT-enabled firm that has become the leading eyewear brand in India. Presently, the company distributes more than 10 million pairs of eyewear annually and has downloaded an astounding 40 million apps.
Around 500 home eye test agents and 2,000 physical locations throughout India, Singapore, Japan, Thailand, Taiwan, and the Middle East make up the brand’s vast network.
