Lenskart Acquihires Hyderabad-Based DailyJoy, To Hire 100 Engineers Significant innovations to come from the Hyderabad technology center to further improve customer experience on both online and offline fronts
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Omnichannel eyewear brand Lenskart announced to have acquihired Hyderabad-based DailyJoy, which will enhance the technology and innovation capability for the brand.
To accelerate the on-goings, Lenskart is also looking to hire over 100 people, across engineering, product, and design in the coming six months.
With this step, Lenskart is looking forward to stationing high-quality engineering talent in the vertical, focusing to facilitate offline buying experience at home with technologies such as augmented reality, computer vision, and machine learning.
The DailyJoy team strongly aligns with Lenskart's competencies and values such as entrepreneurship, tenfold thinking, and 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.
"We are immensely excited to inaugurate the new tech-centre in Hyderabad and have Satish and his team onboard. With deep experience in 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, and innovation. We plan to double our current 150 member technology team with new recruitments in engineering, product, and data science functions, in the next six 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 and young local talent with tenfold thinking that can spearhead this growth with focus, energy, and innovation," said Ramneek Khurana, co-founder, Lenskart.
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 to 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.
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 their remarkable journey going forward in the ever-evolving eye-wear industry. Looking forward to great days ahead," added Satish Sharma, ex-chief executive officer, DailyJoy.
Founded in 2010, Lenskart has grown more than 200 per cent year-on-year in the last two years.
The company entered the unicorn club in 2020, after raising $231 million 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 and TR Capital ($22 million in January 2015).
