Addon Optics
Developed a disruptive technology platform which transforms the manufacturing and distribution of ophthalmic lenses.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $12.0m | Early VC | |
| Total Funding | 000k | ||
Related Content
Addon Optics, established in 2016 by co-founders Amir Erlichman and Haim Engler, operates within the ophthalmic lens manufacturing sector. The company’s core business revolves around a technology platform developed to transform the production and distribution of ophthalmic lenses. This business-to-business model serves a clientele that includes Rx labs, optical retailers, stand-alone finishing labs, and distributors of ophthalmic lenses.
The founders brought complementary expertise to the venture. Amir Erlichman, the CEO, has a background as a seasoned entrepreneur and angel investor, having chaired Kasamba (sold to LivePerson) and worked as a senior partner at the Israeli VC fund Yozma. Co-founder Haim Engler is a serial entrepreneur with extensive experience in the high-tech industry. Their technology platform was co-developed with Professor Yoel Arieli, an expert in electro-optics engineering. The company's management team includes individuals who were instrumental in the evolution of the progressive optical industry, pioneering free-form production and developing premium progressive lens designs.
The central product is a patented technology platform that integrates hardware and software to produce premium ophthalmic lenses. It utilizes a lamination process that adheres a proprietary flexible lens onto an off-the-shelf single-focal lens, creating a high-quality progressive lens. This process is facilitated by a machine comparable in size to a 3D printer, which significantly reduces capital expenditure and space requirements for production facilities. A key feature of this technology is the use of pre-coated flexible lenses, which eliminates the time-intensive, multi-day coating steps from the post-order production flow, allowing for job completion in under an hour. This simplified process also lowers production costs and shortens delivery times. The company’s revenue model is based on this technology, with some members of its executive board having experience in introducing a click-fee revenue model to the industry.
Keywords: ophthalmic lens manufacturing, progressive lenses, optical technology, B2B optical solutions, lens production, free-form production, multifocal lenses, optical design, Rx labs, optical retailers, lens distribution, injection molding, anti-reflective coatings, electro-optics engineering, lamination process, single vision lenses