Lenskart, the leading eyewear retailer, has acquired Hyderabad-based delivery startup DailyJoy. This strategic move is part of Lenskart’s plan to establish a new technology center in Hyderabad.
Lenskart Enters Unicorn Club and Expands Technological Capabilities with DailyJoy Acquisition
In 2020, Lenskart achieved unicorn status after raising $231 million in a Series G funding round from SoftBank Vision Fund II and Lightbulb Ltd. With over 500 stores across 66 cities in India, Lenskart has now further strengthened its presence by opening a new technology center in Hyderabad through the acquisition of DailyJoy, a B2C grocery and essentials delivery startup.
DailyJoy, which operates in Tier I and II cities including Hyderabad and Lucknow, brings over five years of experience in product, design, and technology. Although DailyJoy is focused on daily needs delivery, Lenskart’s acquisition is aimed at leveraging their tech expertise to enhance its own technological capabilities.
To bolster its innovation and technological prowess, Lenskart plans to hire over 100 professionals in Hyderabad across various roles including product design, development, quality engineering, front-end and Java developers, Android and iOS developers, and data science engineers. The company aims to incorporate technologies like augmented reality (AR), machine learning (ML), and computer vision to improve the offline buying experience and expand into new markets such as the US and Middle East, in addition to its existing presence in Singapore.
Ramneek Khurana, co-founder of Lenskart, stated, “We aim to make Hyderabad a hub for high-quality and consistent engineering to support our rapid growth. We expect to attract both seasoned technology leaders and innovative local talent to drive this expansion with focus and creativity.”
Satish Sharma, former CEO of DailyJoy, expressed enthusiasm about the acquisition, saying, “Our goal is to integrate our strengths with Lenskart’s and contribute significantly to their impressive journey in the evolving eyewear industry.”
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