Addon Optics News
2 articles
growth-positive
Cheap multifocal eyeglasses in minutes, not days
Israeli startup Addon Optics has developed a device that can create multifocal lenses in just six minutes at a fraction of the cost of traditional manufacturing methods. The device, the size of a toaster oven, allows opticians to produce lenses in-store, enabling services such as same-day delivery. Addon Optics follows a printer-and-ink business model, where the device is inexpensive or free, and the company makes money by selling the lenses. The company is targeting large chains like LensCrafters and plans to launch its product in the US, Israel, Germany, and Australia. Addon Optics raised $12 million in funding from AP Partners and has already received FDA approval.
CustomersInvestment
growth-positive
Addon Optics raises $12 million for multifocal lenses platform
Israeli company Addon Optics has raised $12 million in its second equity round from AP Partners. The companys technology platform integrates an off-the-shelf single-focal lens with a proprietary flexible lens to create a high-quality progressive lens. Addon Optics plans to use the funding to accommodate its global expansion and make multifocal prescription eyewear more affordable and accessible.
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