Leading eyewear player Lenskart on Monday said it has acquired Tango Eye, which is an AI-based computer vision start-up. Without revealing the commercials of the deal, the company said it aims to leverage on this acquisition to use visual artificial intelligence technology in improving store experience as well as its product experience.
Lenskart had been an early investor in Tango and said that this acquisition is in line with its commitment towards leveraging technology to solve business problems.
“In stores, Tango AI technology analyses CCTV recordings of stores to give analytics, optimise customer flow as well as ensure proper adherence to all processes. Similarly, in its manufacturing plant, Tango AI technology is helping Lenskart automate quality test for its lenses and eyeglasses,” it added.
Peyush Bansal, Co-founder and CEO, Lenskart, says, “At Lenskart, our strategy has always been to use technology to deliver reliable and delightful customer experience at scale, and the Tango AI technology allows us to do exactly this. We have now extended the technology even to our factory where we are ensuring much more reliable QC standards through AI. I am excited about the partnership with Suren and Tango Eye in helping us redefine consumer experience.”
By teaming up with Tango Eye, Lenskart is envisioning a seamless transition between digital and physical touchpoints, he added.
Suren Gounder, Founder and CEO Tango Eye, added, “We are now extending our tech beyond retail to improve reliability of processes across the company. With lenskart as a partner, we hope to invest lot more into our technology and talent.”
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Published on October 30, 2023
