Company Overview
Snapshot
Founded in October 2015 by Amir Erlichman and Haim Engler, Addon Optics operates with 11–50 employees. The company has raised $20 million across three funding rounds from six investors.
Business overview
Addon Optics develops a platform for multifocal lenses within the Health Tech & Life Sciences sector. Its core technology integrates an off-the-shelf single-focal lens with a proprietary flexible lens to create high-quality progressive lenses using a compact, low-capital machine. The company targets the ophthalmology market, serving consumers, professionals, and healthcare providers, including online retailers.
Strategic signal
In May 2022, Addon Optics' device for creating multifocal lenses in minutes received FDA approval, signaling significant market readiness and regulatory validation. This development positions the company for rapid expansion into key international markets, including the US, Israel, Germany, and Australia, and suggests a strong potential for disrupting traditional lens manufacturing with its efficient, in-store production model.
Log in to access full profile ›Company Intelligence Q&A
- What is Addon Optics' core technology?
- Addon Optics has developed a technology platform that integrates an off-the-shelf single-focal lens with a proprietary flexible lens to create high-quality progressive multifocal lenses. This process is facilitated by a machine the size of a 3D printer, requiring low capital outlay.
- When was Addon Optics founded and by whom?
- Addon Optics was founded in October 2015 by co-founders Amir Erlichman and Haim Engler.
- What regulatory milestone did Addon Optics achieve?
- In May 2022, Addon Optics received FDA approval for its device, which can produce multifocal lenses in minutes.
- What is Addon Optics' business model and market strategy?
- Addon Optics operates on a printer-and-ink business model, providing an inexpensive or free device to opticians and generating revenue from selling the lenses. The company plans to target large chains like LensCrafters and launch its product in the US, Israel, Germany, and Australia.