BayBG backs Eyeglass24

Additional investors also took part in the series-B funding round, which totalled more than €1m.

The company stated it will use the funding for further growth in its current market.

Private equity and online opticians have had a chequered history. In September 2014, Omnes Capital-backed Netzoptiker, an online shop that sells glasses and contact lenses online at a 60% discount, filed for insolvency. However, Time Equity Partners-backed Brille24 offers glasses and corrective lenses at a 75% discount and received €7m in funding in 2012.

Previous funding
In January 2014, Eyeglass24 raised a six-figure funding round from investors including Whitestone Communications Networks. The fresh capital was earmarked for increased marketing activity.

In late 2013, Eyeglass was backed by ProSiebenSat.1 Media through its investment arm Seven Ventures.

Company
Munich-headquartered Eyeglass24 provides new or replacement lenses for glasses via its online shop. The company was founded in 2012.

People
Lukas Biberacher is an investment manager at BayBG. Jascha Chong Luna is managing director of Eyeglass24.

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• Topics
• DACH
• Expansion
• Consumer
• Bayerische Beteiligungsgesellschaft mbH (BayBG)
• Germany
• Unq2015Jan