With this accession, Lenskart, which has been an early investor in the incipiency, plans to use visual AI technology in perfecting store experience as well as its product experience.
All About Lenskart’s Acquisition of Tango Eye:
Peyush Bansal- led Eyewear incipiency Lenskart said on October 30 that it has acquired Tango Eye, an artificial intelligence- grounded computer vision incipiency.
With this accession, Lenskart, which has been an early investor in the incipiency, plans to use visual AI technology in perfecting store experience as well as its product experience.
Peyush Bansal, Co-founder and CEO, Lenskart said,” At Lenskart, our strategy has always been to use technology to deliver dependable and pleasurable client experience at scale, and the Tango AI technology allows us to do exactly this. We’ve now extended the technology indeed to our plant where we’re icing much more dependable QC norms through AI. I’m agitated about the cooperation with Suren and Tango Eye in helping us review consumer experience.”
Tango AI technology analyzes CCTV recordings of stores to give analytics, optimize client inflow as well as insure proper adherence to all processes, the company said in a press release. also, in its manufacturing factory, Tango’s AI technology is helping Lenskart automate quality test for its lenses and spectacles.
Suren Gounder, Author and CEO Tango Eye said,” As a author, I am proud to say that we have erected the best- in- class computer vision product that harnesses the advances of AI and solves real- world problems for retailers, helping them ameliorate transformations across numerous brands and stores moment. We’re now extending our tech to beyond retail to ameliorate trustability of processes across the company. With lenskart as a mate, we hope to invest lot more into our technology and gift.”
In 2022, Lenskart acquired a maturity stake in Japanese eyewear brand Owndays to come by expanding its footprint to encompass a staggering 13 Asian destinations, including India, Singapore, Thailand, Taiwan, the Philippines, Indonesia, Malaysia, and Japan, this eyewear innovated by Peyush Bansal, Amit Chaudhary, Neha Bansal and Sumeet Kapahi in 2008, it entered the coveted unicorn club in 2019. Among its supporters, SoftBank, Alpha Wave Global, Temasek, KKR, and TPG are notable champions of this endeavor.
Tango Eye is a Chennai- grounded AI start- up that helps retail stores ameliorate effectiveness and increase deals and security by converting videotape data into practicable perceptivity.