Optimizers Clinches Seed Round Funding, led by Finvolve & India Accelerator
- The company plans to utilize the funds to propel growth of Hospital-based Optical Retail Chain in new territories
Optimizers, a hospital-based optical retail chain, incubated by India Accelerator, has recently raised an undisclosed amount of funding in the seed round led by Finvolve. The round also witnessed investments from other players through Brew Opportunities fund and Recyclean Infotech Private Limited.
The raised funds will be employed to bolster Optimizers’ footprint in key regions and broaden their state coverage throughout India. Additionally, a portion of the funds will be allocated for strengthening LitHous Training Academy, advance ERP and acquiring sufficient inventories to support the expansion. This strategic use of capital aims to strengthen their market position and enhance operational capabilities in the targeted geographies. Ultimately, the focus is on sustainable growth and increased market share.
Founded in 2020, Optimizers® is a hospital-based optical retail chain that partners with leading corporate hospitals like EyeQ Superspeciality Eye Hospitals, Institutes like CL Gupta Eye Institute, renowned private and charitable hospitals across Haryana, Punjab, Delhi, UP and Rajasthan. Co-locating with hospital’s state-of-the-art facilities and skilled doctors, Optimizers’ focus is on delivering high-quality eyewear, customized services to consumers in tier I, II & III cities and beyond. Their unique revenue-sharing model ensures both superior lens dispensing solutions for patients and increased profitability for partnering doctors. Committed to eradicating curable blindness and addressing early myopia, Optimizers strives to enhance the quality of life for the Next Half Billion People in India.
In addressing the mission at hand, Saurabh Bhatia, Co-founder and Director of Optimizers®, expressed concern over the escalating issue of curable blindness, characterizing it as an emerging epidemic in India. Bhatia pointed out that a staggering 10 crore citizens in the country lack the necessary awareness and access to prescription spectacles. He emphasized Optimizers®’ commitment to making a widespread impact by forging partnerships with both private and public entities. Their goal is to provide specialized spectacle services to each and every citizen in India, aiming to bridge the gap in eyecare accessibility across the nation. The secured funds mark a positive stride forward, bringing us closer to our ultimate objective. These resources will be deployed to enhance operational capabilities and drive nationwide expansion.
Commenting further, Munish Bhatia, Co-Founder, India Accelerator & Vertical Partner -Impact Labs, said, “Myopia cases in India have jumped to 26% in the last 2 years and one of the “most common causes of this acceleration is the lack of early and correct diagnosis and dispensing of lenses. At India Accelerator Impact Labs®, we see this as a dire need that needs addressal to save the Next Half Billion Lives falling prey to curable blindness, and Optimizers is one such promising innovative solution. They are very well positioned in this domain having been trusted partners of many eye hospitals, and centers and have shown 3X upstick growth both in operations and revenues. Where India loses close 1.5 Lakhs Crores of potential in economic and social prosperity due to incorrect optical dispensing, Optimizers® strategy is to percolate tier 2, 3 beyond cities will reflect in a positive change. Asides being their first institutional investors, we are proud to be supporting the team on a mission to eradicate curable blindness from India by connecting them with networks of doctors and helping expand to other geographies in India.”
Furthermore, the startup is keenly focused on expanding its reach nationwide and is actively working to establish a robust digital presence.
About India Accelerator:
India Accelerator, awarded the Best Accelerator of the country in 2021 by Startup India and first GAN partnered accelerator in India, provides a dynamic and highly supportive ecosystem for entrepreneurs. Backed with a couple of SEBI AIF, IA has 200+ startups in our portfolio, 1800+ angel investors and mentors in its network. With 9 co-working hubs, our vision is to create an inclusive ecosystem that can connect all relevant stakeholders in the economy- Government, Academia, Industry and the Startups. Our thesis is to invest in high potential early-stage entrepreneurs and help them scale, thus contributing to the vibrant entrepreneurial ecosystem in the country.
