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3DNA Technology

Custom Eyewear Design and Prodution Network

Market: Production, Robotics
Stage of the project: Operating business

Date of last change: 12.07.2020
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Idea

An eyewear brand using technology challenging the metrics of good design, made with premium materials, each piece carries the “DNA” of the user - their style, personality, and vision needs, as much as the process and interactions through which they co-create the product. We are a tech startup with a mission to empower creativity and craftsmanship through design. Our technology enables each link of the value chain to contribute to end product in a personally engaging way, while liberating workers and middle-men from the tyranny of mass production.

Current Status

Launched in Q2 2018. 20 Kiosks sold worldwide in India, Hong Kong, China, USA, UK, Thailand. $300,000 USD Revenue

Market

$160 Billion per year eyewear industry. 93% bricks and mortar, 7% online. Our omnichannel solution targets the 93% bricks and mortar channel and their upstream distribution providers.

Problem or Opportunity

100,000+ Retail Opticians around the world face the same set of problems:

Homogenous Experience: Regardless if independent, chain, boutique or bargain, the process of 'Try on, Take off, Repeat' is same since the 1950s!

Inventory: ~$100,000 tied up in inventory. Costly to stock, painful to pick, gets old and out of style quick. Include more time lost to rep visits and board management.

Commodification: Same product/brands sold in every shop, nullifying differentiation. When same product is everywhere, people go for cheapest. Nobody wins in a race to the bottom.

Internet Lockout: Opticians most valuable asset: service skills and style/fitting expertise aren't able to deliver across the web, requiring consumers to be physically in the shop, frustrating Opticians.

Web Competition: Internet sellers offer identical product for less, diffusing margin and further angering Opticians.

No Emotion: Stock products not memorable or special, lacking sentimental value attached to item or purchase process. Nobody Instagrams lunch at McDonalds!

Fit: We are different shapes and sizes, a favorite style or color doesn't come in the right size leading to compromises on selection. Some opticians lack the desire or skill to properly adjust and some models can't be adjusted.

Solution (product or service)

Start with a 3D scan. Instantly WOW, a pleasant surprise, completely personal, collaborative design session; a fun, playful, and interactive process.

Cash formerly tied to inventory is unlocked. New shapes delivered monthly free of charge, tailored designs are shared to the network: a continual feed of new frames without the inventory cost.

Each frame is one-of-a-kind, perfectly fitted, and emotionally connected to the patient. Escape the commodity trap.

iOS app instantly connects to any optician with 3DNA kiosk, enabling scan + design sessions to be conducted in real-time, from anwhere. Online Opticianry: Unleashed.

'Cut-to-fit' eyewear: the molded bridge fits the nose contour perfectly; behind the ears is cut directly into the material. Reducing or eliminating adjustments on wood, sea-shell, stone, cork, carbon-fibre, and buffalo horn.

The consumer plays an integral part in the design process, their unique persona and preferences built into each and every design.

When getting compliments on their new eyewear, they love to brag about the design being 'Their own."

"This is my design, I made this." Resulting in word-of-mouth marketing gold for opticians.

Competitors

Tom Davies, Traditional Bespoke without technology. Roger Bacon 3D printed custom eyewear. Fourdex, Clear3D 3D Printed Customized eyewear. Topology bespoke b2c eyewear play.

Advantages or differentiators

Our solution solves the challenge the 93% of the channel has, which is inability to offer their professional services over the internet, aka telemedicine. By leveraging the upstream value chain, Wholesale distributors and labs, we leverage the channel to scale. Also we are cool and the competitors are stodgy by comparison, attracting younger consumers.

Finance

Our vertical solution sells raw materials, production technology, retail technology and a mobile app. The B2B segments have high recurring revenue and a monthly service fee. Margins are 65-80%

Business model

Raw materials, Production Technology, Retail Technology and Mobile app.

Money will be spent on

Building the software and hardware solution. Marketing.

Offer for investor

15% equity for 1M USD, or prorata.

Team or Management

Risks

Income inequality may continue to worsen, driving more consumers toward the value end of the market. Mergers and industry consolidation may freeze us out of large swaths of the market.

Incubation/Acceleration programs accomplishment

Betatron Cohort 3 Graduate.

Won the competition and other awards

Top Retail Innovators in Hong Kong 2018 and 2019 award winner.

Photos

Photo 1 - Custom Eyewear Design and Prodution Network

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video