Lenskart to acquire majority stake in GeoIQ

Lenskart is set to acquire a majority stake in GeoIQ, bolstering its consumer insights and offline expansion strategy.

The deets: GeoIQ builds AI-powered geospatial grids (think super-detailed maps) by layering government data, public sources, and satellite imagery. It helps brands pinpoint where offline demand lies, driving faster and smarter store expansion.

Lenskart was already an investor, having led a $2.25 million round in 2022.

The platform serves big names like Zepto, Navi, HUL, Caratlane, Swiggy, and CultFit, besides Lenskart.

Why it matters: this acquisition arms Lenskart with even sharper location intelligence as it scales offline stores across India. The goal is simple, make every new store a high-conversion one, based on deep local data.

It also comes as Lenskart gears up for its $1 billion IPO at a projected $10 billion valuation, where showcasing cutting-edge tech capability will be key.

Zoom out: GeoIQ is Lenskart’s second buy in two years. In 2023, it picked up AI startup TangoEye; in 2022, it bought Japan’s Owndays and took a stake in Paris-based Le Petit Lunetier.