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Lenskart invests $1 million in US-based 3D tech startup Ditto

Online eyewear retailer Lenskart Solutions Pvt. Ltd. has picked up a minority stake in US-based 3D virtual try-on and frame recommendation tech startup Ditto for $1 million, reports PTI. Lenskart is already a client of Ditto and has integrated its 3D virtual frame try-on feature on its website and app. The company's founder and CEO Peyush Bansal told the publication that currently they witness over 10,000 trials of the 3D try-on feature. Following this deal, Lenskart will further integrate other Ditto features on its platform, including allowing users to share images of themselves wearing different frames on social media. Ditto claims that its frame recommendation technology employs facial analysis, including shape of the face, features, measurements, skin tone, hair and eye color among others, before making a recommendation. While the 3D try-on feature lets users see themselves with the eyewear on in 180-degree. The company also offers in-store iPad apps that allow customer service representatives at a physical store to capture a video of the customers' face and then virtually display the selection of frames available. Given that Lenskart has been emphasising on expanding its offline footprint, this could be a feature that will soon make its way to Lenskart stores around the country. Lenskart financials In FY17, Lenskart posted losses of Rs 100 crore, down 12% from losses of Rs 113 crore in the previous fiscal year, according to this Financial Express report. However, it's total revenues for FY17 stood at Rs 290 crore, nearly three times the Rs 100…

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