EYEGLASS24, which claims to be the first specialist in Germany for the exclusive sale of ophthalmic lenses via the Internet, has secured capital in a seven-figure amount.
Existing investors Bayerische Beteiligungsgesellschaft (BayBG), Schlüssel Vermögensverwaltung, and Whitestone Communications Network are also participating in the new financing round. New investors include Kreditanstalt für Wiederaufbau (KfW), Lang Holding, and other private investors.
The company was founded in Munich in 2012 and sells Eyeglass lenses online to end customers.
Investment gives EYEGLASS24 “the decisive boost”
The startup intends to invest the fresh capital in expanding marketing, sales and personnel. Jascha Chong Luna, founder and managing director of EYEGLASS24 says:
“We are in an important growth phase, and the financing we have now secured from our existing financiers and new investors gives us the decisive boost we need.”
Co-founder Felix Zenth added:
“We will now expand our business with the funds we have gained in order to further strengthen our market position.”
Lukas Biberacher, Investment Manager at BayBG, says:
"As an investor, we have supported EYEGLASS24 for more than two years, during which the company has experienced outstanding development. This has prompted us to expand our existing commitment."
According to the startup, it offers lenses up to 70% below the manufacturer's recommended price. In a previous interview with Munich Startup Jascha Chong Luna explained that the high prices for spectacle lenses are mainly due to the low sales figures and the high running costs of stationary opticians:
"Therefore, they [the opticians, ed.] have to charge a markup of 10x or more between the purchase and selling price of lenses."
EYEGLASS24 can therefore offer glasses at a much lower price.
