Eyewear brand Lenskart has acqui-hired Hyderabad-based DailyJoy to enhance technology and innovation capability. They are also opening a technology centre in Hyderabad that will provide employment to more than 100 people across engineering, product and design verticals in the next six months.
“As we join hands, it will be our endeavour to synchronise our synergies with Lenskart and add value to their remarkable journey going forward in the ever evolving eye-wear industry,” said Satish Sharma, ex-CEO, DailyJoy.
With more than 1,000 employees, Lenskart has over 500 stores across more than 66 cities in India. The company entered the unicorn club in 2020, after raising Rs 1,645 crore (USD 231 million) from SoftBank Vision Fund II, Lightbulb Ltd. as part of its Series G funding round.
"We are immensely excited to inaugurate the new tech-centre in Hyderabad & 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," Lenskart co-founder Ramneek Khurana said.
Lenskart has already consolidated their position in India & Singapore and with this latest acqui hiring, it will be interesting to see if it puts them in good stead to expand their horizons in the Middle- East and US.