Brazilian company eÓtica has announced the closing of its first investment round, having received funds from investment group Kaszek Ventures and angel investor Kai Schoppen.
eÓtica is an e-commerce platform dedicated to the optical sector, offering items such as eyeglasses, contact lenses and sunglasses. It offers users the opportunity to purchase fashion and prescription eyewear online, even allowing them to try glasses from the comfort of their own homes.
The company was established near the end of 2011 by founders Bruno Ballardie Oliveira and Eduardo Baek. Since its launch, eÓtica has experienced a 40% monthly growth rate and expects to attract more than 100,000 users this year and next. Brands such as Ray Ban, Vogue, Nike, Absurd, Calvin Klein, Diesel, HB, Lacoste, Michael Kors and Mormaii are available through the site.
Much of eÓtica’s recently-received investment will be directed towards the roll-out and development of its Clube da Lente (Club Lens) in hopes of increasing contact lens sales by 200%. Customers enrolled in Clube da Lente receive and refill contact lens prescriptions at home and have the ability to schedule regular deliveries if desired. Moreover, shipping is free, and discounts of up to 20% may be applied. Customers are guaranteed a promotional price for at least one year upon signing up.
eÓtica is looking to reap the benefits of Brazil’s strengthening e-commerce market and the optical industry niche. The company’s CEO, Bruno Ballardie Oliveira, estimates that the optical e-commerce sector will reach a turnover of US$500 million by 2016. eÓtica aims to garner 40% of the total, roughly US$200 million.
As Brazilians become increasingly comfortable with the idea of buying online, eÓtica will join the ranks of the countless niche e-commerce platforms prospering in Brazil today. This investment will surely play an important role in making sure it remains steady on its path.