Lenskart, a leading eyewear retailer, has acquired Chennai-based startup Tango Eye, a leader in AI-powered computer vision, marking a significant milestone in their commitment to enhancing both in-store and product experiences through cutting-edge technology.
Tango Eye, known for its prowess in analyzing CCTV footage to optimize retail operations, has been working closely with Lenskart, even prior to the acquisition. The startup’s technology plays a crucial role in streamlining customer flow within stores and ensuring strict adherence to operational processes. By converting video data into actionable insights, Tango Eye helps retail stores boost efficiency, increase sales, and enhance security.
Lenskart’s CEO, Peyush Bansal, expressed his enthusiasm about hopping onto the AI bandwagon, emphasizing the company’s strategy to use technology for delivering a reliable and delightful customer experience at scale. “The Tango AI technology allows us to do exactly this,” Bansal stated, highlighting the seamless integration of AI in their operations.
The acquisition is not just a testament to Lenskart’s innovative spirit, but also a strategic move to strengthen their position in the eyewear market. With Tango Eye’s technology, Lenskart is set to automate quality testing at its manufacturing plants, ensuring that every product meets their high standards of quality. This move towards automation and reliance on AI for quality control underscores Lenskart’s dedication to excellence and innovation.
Suren Gounder, the founder and CEO of Tango Eye, expressed his pride in creating a best-in-class computer vision product that solves real-world problems for retailers. “With Lenskart as a partner, we hope to invest a lot more into our technology and talent,” Gounder remarked, highlighting the potential for growth and innovation that this partnership brings.
Lenskart’s acquisition of Tango Eye is a clear indication of the company’s forward-thinking approach and its commitment to revolutionizing the retail industry. By integrating visual AI technology, Lenskart is not just enhancing the in-store experience, but also ensuring a seamless transition between digital and physical touchpoints. This strategic move is set to redefine consumer experience, setting a new standard for retail excellence.
