Japan’s state-run fund to invest $9 million in eyeglass e-commerce startup Oh My Glasses

Masaru Ikeda by Masaru Ikeda on 2014.8.2

incj-omg_logos

NHK reportedo n August 2 that Innovation Network Corporation of Japan (INCJ), the Japanese state-run startup fund, will invest 900 million yen ($9 million) in Japanese eyeglasses-focused vertical e-commerce startup Oh My Glasses. This is part of the government’s aim to promote the optical industry in Sabae City, which has for centuries been a major supplier of eyeglasses.

Since its start in 2011, Oh My Glasses has been providing an eyeglass e-commerce service that offers five sets of eyeglasses at a time upon order, and buy one if you can find any favorite among them. So customers can try them on before buying.

See also:

Oh My Glasses procures most of its products from suppliers in Sabae. Companies in Sabae expertly handcraft eyeglasses to very high standards, but they need to streamline production to compete against cheaper eyeglasses from China and Korea.

Oh My Glasses plans to use the funding to help factories in Sabae rationalize their business operations by developing systems for better inventory management and for sales updates/reports being regularly provided to local opticians and factories.

ohmyglasses_featurediage

Masaru Ikeda

Masaru Ikeda

Masaru started his career as a programmer/engineer, and previously co-founded several system integration companies and consulting firms. He’s been traveling around Silicon Valley and Asia exploring the IT industry, and he also curates event updates for the Tokyo edition of Startup Digest.

人気ニュース