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Business Standard
04-07-2025
- Business
- Business Standard
Visioning expansion: IPO-bound Lenskart sets sights on AI glasses
Eyewear unicorn Lenskart has invested in Mumbai-based Ajna Lens, a deep-tech startup specialising in extended reality (XR) and AI-powered wearable tech. The deal, the value of which remains undisclosed, marks Lenskart's first serious bet on AI-enabled smart glasses, and comes as it gears up for a $1 billion initial public offering (IPO) at reportedly $10 billion valuation. Ajna's tech is likely to power the next generation of smart eyewear for Lenskart, which already offers 'Phonic Smart Glasses' — Bluetooth-enabled glasses that allow users to take calls, play music and interact with voice assistants. But this new move takes the company deeper into wearables with AI and spatial computing at the core. Founded in 2014 and based in Thane, Ajna Lens won a CES Innovation Award in 2023 for its mixed reality headset, AjnaXR. Globally, smart glasses shipments have more than trebled since 2022, crossing 2 million units in 2024, industry estimates show. In India, the AR and VR eyewear market touched $608 million in 2024, and is projected to hit $1.67 billion by 2033, thanks to demand in gaming, health care, and education, according to IMARC Group, which is involved in market research. But the race is intensifying: The global smart glasses market, which is currently valued at over $6 billion, is expected to reach $15.08 billion by 2032, growing at a compound annual growth rate (CAGR) of 10.3 per cent. Meta dominates the space with its Ray-Ban Meta line, holding over 60 per cent of the global market in 2024, according to Counterpoint Research. Apple and Google are also in the fray. Furthermore, Xiaomi, Samsung, Baidu, ByteDance are expected to roll out products over 2025–26. Against this backdrop, Lenskart is looking to stand out by bringing together Ajna's XR stack with its own expertise in optical engineering to create 'glasses-first' wearables, prioritising vision correction and comfort alongside digital features. The Ajna investment is part of Lenskart's broader playbook to gain tech advantage and scale. It previously acquired Japanese eyewear brand Owndays in 2022 through a $400 million deal. In 2023, Neso Brands, a Lenskart subsidiary, bought a stake in Paris-based Le Petit Lunetier for $4 million. The unicorn also took over Tango Eye, an AI-vision startup, for an unknown amount. Now, the focus is on the company's IPO. US financial services major Fidelity recently increased its estimated valuation of Lenskart to $6.1 billion, according to its latest monthly portfolio disclosure, up from $5.6 billion in November last year. Lenskart recently converted into a public limited company amid its preparation for the IPO. Lenskart's operating revenue jumped 43 per cent to ₹5,428 crore in FY24 from ₹3,788 crore the previous year, while losses shrank sharply, down 84 per cent to ₹10 crore from ₹63 crore. The company runs over 2,500 stores, including 2,000 in India. It's scaling internationally too, with footprints in Southeast Asia and West Asia, powered by a 'click-and-mortar' strategy combining online, app-based, and offline experiences. The company is also setting up its largest manufacturing facility yet in Telangana, investing ₹1,500 crore under a pact with the state government to establish the unit at Fab City. Lenskart competes with players such as Titan Eyeplus, Specsmakers, Vision Express, Warby Parker, and Italian eyewear conglomerate Luxottica Group.
Business Standard
04-07-2025
- Business
- Business Standard
Lenskart invests in AI startup Ajna Lens ahead of smart glasses push
Eyewear unicorn Lenskart has invested in AI startup Ajna Lens as it races to develop smart glasses ahead of its planned $1 billion IPO, marking the company's latest move into wearable technology. The investment, whose value was not disclosed by the firms, gives Lenskart access to Ajna Lens's artificial intelligence-powered extended reality (XR) technology, as the Mumbai-based startup specialises in developing advanced wearable tech products. Ajna Lens, recognised with a CES Innovation Award in 2023 for its mixed reality headset AjnaXR, is known for developing some of the most advanced wearable technology in the sector. The partnership comes as the global smart glasses market—valued at over $6 billion and expected to reach $15.08 billion by 2032, growing at a CAGR of 10.3 per cent—faces increasing competition from tech giants such as Meta, Apple, and Google. Lenskart said it plans to combine its capabilities in frame design and optical engineering with Ajna's technology to create smart glasses that are more accessible and aligned with everyday consumer use. The company emphasised that its approach to smart eyewear will prioritise the fundamentals of vision correction and wearability, framing them as 'glasses first' in both form and function. 'This investment marks the next chapter in our smart glass journey, which began with the launch of Phonic, our audio glasses, in December 2024,' said Peyush Bansal, Co-founder and Chief Executive Officer of Lenskart. 'As the smart glasses category scales rapidly, our partnership with Ajna Lens strategically positions us to accelerate product innovation in this space.' Founded in 2014 and headquartered in Thane, Mumbai, Ajna Lens is a deep-tech startup developing immersive technologies powered by spatial computing, AI vision, and an XR stack. The Ajna investment is part of Lenskart's broader acquisition strategy to gain access to new technologies and scale operations. The company has previously acquired firms such as Tango Eye, an artificial intelligence-based computer vision startup. In 2022, Japanese brand Owndays became part of the Lenskart group in a deal estimated at $400 million. In 2023, Neso Brands, a subsidiary of Lenskart, acquired a stake in the Paris-based eyewear brand Le Petit Lunetier for $4 million. Lenskart's aggressive expansion comes as the company prepares for its public market debut. US financial services major Fidelity recently increased its estimated valuation of Lenskart to $6.1 billion, according to its latest monthly portfolio disclosure, up from $5.6 billion in November. The company plans to raise up to $1 billion at a targeted valuation of $10 billion and recently converted its parent entity from a private limited to a public limited company. The company has demonstrated strong financial performance ahead of its IPO. Lenskart's revenue from operations rose by 43 per cent to Rs 5,427.7 crore in FY24 from Rs 3,788 crore in FY23. The firm generates revenue by selling eyewear frames, lenses, goggles, and offering additional services such as eye check-ups. Due to cost-effective management, Lenskart reduced its losses by 84 per cent to Rs 10 crore in FY24 from Rs 63 crore in FY23. Lenskart continues to deepen its penetration in India while rapidly scaling its international presence, including in Southeast Asia and the Middle East. With a unique click-and-mortar business model, it is disrupting the eyewear industry by offering an omni-channel customer experience across online platforms, mobile applications, and stores. The company now has over 2,500 stores, of which 2,000 are in India. Globally and in India, Gurugram-based Lenskart competes with players such as Titan Eyeplus, Specsmakers, Vision Express, Warby Parker, and Italian eyewear conglomerate Luxottica Group. The company is also investing in manufacturing capabilities. It is planning to set up its largest eyewear manufacturing facility in Telangana with an investment of about Rs 1,500 crore. For this, it has signed a memorandum of understanding (MoU) with the Telangana government to establish the facility at Fab City. The smart glasses push positions Lenskart to compete in the emerging wearable technology market, as traditional eyewear companies face pressure to innovate beyond basic vision correction, analysts say.
Korea Herald
16-06-2025
- Health
- Korea Herald
CodeSteri Launches PlaDeo: The World's First Bio-Plasma Powered Deodorant Device
A Breakthrough in Underarm Odor Control and Axillary Bromhidrosis Treatment SEOUL, South Korea, June 17, 2025 /PRNewswire/ -- CodeSteri Inc., a tech-driven startup based at the Hanyang University College of Medicine in Seoul, today announced the launch of PlaDeo, the world's first electronic deodorant device powered by bio-plasma. Designed to eliminate underarm odor safely and effectively, PlaDeo offers a revolutionary approach to managing axillary bromhidrosis —a medical condition characterized by chronic underarm odor—without the use of chemicals, pore-blocking agents, or aluminum salts. In 2020, PlaDeo—then branded Pragrant —was awarded the CES Innovation Award in the Health & Wellness category, recognizing its disruptive potential in personal care technology. Unlike conventional deodorants that mask odor using synthetic fragrances or suppress sweat glands, PlaDeo employs reactive oxygen species (ROS) —including hydroxyl radicals (OH⁻) and superoxide ions (O₂⁻)—to directly neutralize odor-causing bacteria and molecular residues on the skin. This plasma-powered mechanism ensures a non-toxic, non-residue, and skin-safe experience for daily users. Scientifically Validated Performance PlaDeo's efficacy has been scientifically proven. A peer-reviewed study published in Scientific Reports (2024), along with a clinical trial conducted at Hanyang University Hospital, demonstrated that 94% of participants experienced significant odor reduction after using the device regularly. These results validate PlaDeo as not only a hygiene product, but also a clinically relevant solution for those suffering from persistent body odor. The launch of PlaDeo comes at a time when global consumers are actively seeking chemical-free, science-supported alternatives for personal hygiene. With increasing awareness of the long-term risks posed by ingredients such as triclosan and aluminum compounds, PlaDeo addresses a growing demand for effective, health-conscious innovation in the deodorant market. Its compact, travel-friendly form factor also makes it ideal for use in gyms, offices, eldercare environments, and hospitals—anywhere discretion and hygiene intersect.
Yahoo
14-05-2025
- Entertainment
- Yahoo
Robert De Niro Unveils First Footage From Doc About Fatherhood and Says: ‘I Always Want There to Be Movies in Cinemas'
Robert De Niro unveiled the first teaser for a new documentary he's making about his late father during a Cannes Film Festival conversation on Wednesday. The discussion was moderated by the French visual artist JR, with whom De Niro is working on the film. 'We're kind of seeing where we're going,' the 81-year-old actor said about the project. 'I don't know where we'll go. There's no time limit, as far as I'm concerned. You just do it and wherever it arrives or winds up, that's OK.' More from Variety Cannes Film Market and Consumer Technology Assn. Launch CES Innovation Award Spain's Big Shoot Scene Remains Resilient, Despite Global Headwinds Spain Scores a Historic Cannes Competition Double The clip featured stunning blown-up photos of De Niro's father, a painter who died in 1993, placed around New York City — including on a boat in the harbor — as well as an appearance by Martin Scorsese. Though many of De Niro's answers to JR's questions about the film were painfully short — even hostile — the teaser saw him opening up more about his own journey with fatherhood as well as his mortality. 'Ultimately, it would be something that only time can make it more special,' De Niro said in the teaser. 'It's not essential that I see the final thing.' When asked if he was afraid of death, De Niro said: 'I don't have a choice, so you might as well not be afraid of it.' Picking back up on the topic during the conversation, De Niro said he wished to 'adjust' his answer a little. 'I'm afraid, but I don't have a choice,' he said. 'So if you know you don't have a choice, you might as well not be afraid of it. You just have to learn to embrace life, move forward and take everything good and bad.' De Niro said he isn't sure exactly when the film will come out and that production may continue even after his death. 'So once I'm not even around, he's just going to be shooting on and on forever, asking me questions when I'm in my coffin,' he said of JR. Beyond Scorsese, JR said Leonardo DiCaprio, who presented De Niro with his Cannes honorary Palme d'Or on Tuesday night, is also featured in the project. During the opening ceremony, DiCaprio said of De Niro: 'That's the thing about Bob: he doesn't say much, but when he does, it matters. Whether it's for his friends, his family, fighting for democracy or supporting the art of filmmaking — he shows up.' De Niro then delivered a fiery speech railing against U.S. President Donald Trump, calling him a 'philistine president' and declaring him an enemy of the arts. 'In my country, we're fighting like hell for the democracy we once took for granted. And that affects all of us here because the arts are democratic,' De Niro said. 'Art is inclusive. It brings people together, like tonight. Art looks for truth, art embraces diversity and that's why art is a threat — that's why we are a threat — to autocrats and fascists.' At a certain point in the talk on Wednesday, the audience grew antsy with the dynamic between De Niro and JR, with one audience member even yelling: 'Talk about cinema!' It was certainly a different atmosphere than during the opening ceremony, when De Niro then delivered a fiery speech railing against U.S. President Donald Trump, calling him a 'philistine president' and declaring him an enemy of the arts. But De Niro got back into his groove when the conversation pivoted to audience questions, beginning with one about the current political turmoil around the world and how we found ourselves in this situation. 'People have to stand up for what's right because inherently we know what is right, and certain people are doing what's wrong,' he said. 'People really know what you have to do to do the right thing, and people who are not doing the right thing know they're not. And it has to bother them in some way.' De Niro continued, 'The point is that people have to have the right to make decisions collectively together, and there are many people who don't believe in that. They don't want to give it up or even do the right thing — but I don't understand that because it would give them even more power if they did the right thing.' He was also asked about the current state of cinema today, to which he replied: 'I don't even know if I have a theory on it at this point,' adding that all he knows is 'telling stories visually in film or whatever it is.' However, De Niro said he always 'wants there to be movies in cinemas like this, because there's a difference in having an experience in a theater than having one alone … Something about the tradition of being in a movie theater, experiencing whatever's being shown together, is just special. And you can't take that away from what it is.' Best of Variety New Movies Out Now in Theaters: What to See This Week Emmy Predictions: Talk/Scripted Variety Series - The Variety Categories Are Still a Mess; Netflix, Dropout, and 'Hot Ones' Stir Up Buzz Oscars Predictions 2026: 'Sinners' Becomes Early Contender Ahead of Cannes Film Festival
Yahoo
14-05-2025
- Entertainment
- Yahoo
Cannes Film Market and Consumer Technology Assn. Launch CES Innovation Award
The Cannes Film Market and the Consumer Technology Assn., the owner of technology event CES, have teamed to launch a new CES Innovation Award category: Filmmaking and Distribution. The award is in partnership with Cannes Next, the innovation-focused program that runs as part of the Cannes Film Market. The award will 'celebrate companies, startups, entrepreneurs and filmmakers developing transformative technologies that empower creative talent and industry professionals across filmmaking, production, and distribution.' More from Variety Spain's Big Shoot Scene Remains Resilient, Despite Global Headwinds Spain Scores a Historic Cannes Competition Double MMM Film Sales Picks Up Cannes ACID Closer 'The Black Snake,' ARP to Distribute in France: A 'Powerful Story of Tradition, Displacement and Identity' (EXCLUSIVE) Eligible innovations include advanced solutions for film producers, sales agents, distributors, financiers, cutting-edge generative AI technologies for screenwriting, video production, voice synthesis and state-of-the-art pre- and post-production tools, as well as next generation streaming and distribution platforms. A jury, selected by the Cannes Market and CTA, will honor 'the most innovative and impactful solutions, elevating this award to become the premier global accolade recognizing excellence in filmmaking and distribution technology.' 'We are committed to showcasing innovations that empower creatives, storytellers and industry professionals, shaping the future of cinema,' said Guillaume Esmiol, executive director of Cannes Market. 'The global reputation of CES Innovation Awards makes it the perfect platform to showcase new technologies that enhance artistic expression and unlock new business opportunities for the film industry.' 'This award showcases how creators in film can use tech to unlock new worlds,' said Gary Shapiro, CTA CEO and vice chair. 'We're thrilled to partner with Cannes Next and recognize the community of innovators who are transforming the film industry as we know it.' Product submissions for CES 2026 open in June, along with submissions to compete for the awards program. Best of Variety New Movies Out Now in Theaters: What to See This Week Emmy Predictions: Talk/Scripted Variety Series - The Variety Categories Are Still a Mess; Netflix, Dropout, and 'Hot Ones' Stir Up Buzz Oscars Predictions 2026: 'Sinners' Becomes Early Contender Ahead of Cannes Film Festival
