Lenskart announced its recent acquisition of Tango Eye, an AI-based computer vision start-up. With this acquisition, the company plans to use visual artificial intelligence technology to improve store experience as well as its product experience, it said in a release.
The company has been an early investor in Tango and the acquisition reinforces Lenskart’s commitment towards leveraging technology to solve business problems and delight customers.
In stores, Tango AI technology analyses CCTV recordings of stores to give analytics, optimize customer flow as well and ensure proper adherence to all processes. Similarly, in its manufacturing plant, Tango AI technology is helping Lenskart automate quality tests for its lenses and eyeglasses.
Peyush Bansal, co-founder and CEO of Lenskart says “At Lenskart, our strategy has always been to use technology to deliver reliable and delightful customer experience at scale, and the Tango AI technology allows us to do exactly this. We have now extended the technology even to our factory where we are ensuring much more reliable QC standards through AI.
Ramneek Khurana, co-founder of Lenskart adds “This strategic move marks a significant milestone in Lenskart's journey towards revolutionising the retail industry. By teaming up with Tango Eye, Lenskart is envisioning a seamless transition between digital and physical touchpoints. ”
Speaking on the occasion Suren Gounder, founder and CEO of Tango Eye States: "We are now extending our tech beyond retail to improve the reliability of processes across the company. With Lenskart as a partner, we hope to invest a lot more into our technology and talent”
Tango Eye is a Chennai-based AI start-up that helps retail stores improve efficiency, and increase sales and security, by converting video data into actionable insights. By utilising state-of-the-art AI and computer vision technology, Tango Eye empowers brands to identify opportunities for improvement and address real-world challenges within the retail sector without the need for capital expenditure.