Rounds Company
AI-powered virtual try-on and eyewear e-commerce platform.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | KRW5.0b | Growth Equity VC | |
| Total Funding | 000k | ||
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Rounz is an eyewear commerce company that has introduced an AI-powered virtual try-on service to the South Korean market. The firm, a subsidiary of ESTsoft, was initially named Deep.i and launched its virtual fitting app 'Rounz' in 2018, later rebranding the company to Rounz. The company is led by co-CEOs Myeong-seop Kim and Semin Kim.
The company's core offering is the 'Rounz' mobile app, which uses augmented reality (AR) and real-time deep learning technology to allow users to virtually try on glasses and sunglasses. This technology aims to transform the traditionally difficult process of choosing eyewear into a more engaging experience. The platform's virtual fitting technology has proven effective, leading to a low single-digit product return rate and recognition from Apple Korea as a leading AR application.
Rounz operates on an O2O (Online-to-Offline) omni-channel business model that integrates its online platform with a network of offline partner opticians. Customers can select frames online after a virtual try-on and have them shipped to a nearby partner optical store to be fitted with prescription lenses. This model addresses the legal requirement in South Korea for prescription lenses to be purchased at a physical store, fostering a symbiotic relationship with traditional opticians. For its partners, Rounz reduces inventory costs by directly shipping customer-ordered frames to the stores. The company has also introduced the 'Rounz Mirror,' a virtual fitting kiosk for offline stores, to enhance the in-store customer experience. The partner network has grown to approximately 600 opticians.
Since its inception, Rounz has achieved a cumulative revenue of over 27 billion KRW. The company secured a 5 billion KRW Series A bridge investment in November 2022, bringing its total funding to 10 billion KRW. The company also operates its own private-label brands, including 'Rounz Absolute', which leverages AI and customer data in its design process.
Keywords: eyewear e-commerce, virtual try-on, augmented reality, AI, omni-channel retail, O2O platform, optical technology, fashion tech, glasses, sunglasses, B2B2C, prescription lenses, partner opticians, Rounz Mirror, ESTsoft, Deep.i, Myeong-seop Kim, Semin Kim, Korean startup.