🧠 What GeoIQ Brings to the Table
GeoIQ uses proprietary algorithms, satellite imagery, government data, and 600+ public data sources to build a hyper‑local location AI platform
- It creates 100 m×100 m geospatial grids.
- Adds AI predictions for affluence, customer behavior, and retail potential
🎯 Why Lenskart Made the Move
Peyush Bansal, Lenskart’s co‑founder & CEO, explains that GeoIQ’s technology helps them:
- Launch stores 5× faster
- Achieve 50 % better return on invested capital (ROIC)
- Make data-driven decisions for site selection and marketing
🌍 Benefits for Retail Growth
Through GeoIQ’s no‑code model, Lenskart can:
- Predict demand in micro‑market areas
- Analyze local competition and demographics
- Automate location selection and revenue forecasting
- Support omni‑channel expansion beyond India
🚀 GeoIQ’s Ambitions
GeoIQ aims to empower 1,000 data teams across India and the US in the next 12 months. They’re targeting a 10× boost in API usage—to 3 million decisions per day—and expanding their product and sales teams
CEO Devashish Fuloria says these funds will help them build diverse AI models by tapping into data science communities and scaling operations globally businessnewsthisweek.com
🔁 Broader Strategic Fit
Lenskart is using the Vision Fund to invest in AI, AR, omni‑channel tech startups. This acquisition aligns with their previous investments, such as the Tango Eye computer‑vision startup, to enhance retail CX and analytics
📌 Key Takeaways
| Benefit | Impact |
|---|---|
| Faster Expansion | 5× speed in opening new stores |
| Smarter ROI | 50% improvement in location profitability |
| Data‑led Growth | Predictive analytics at street‑level granularity |
| Tech Leadership | Further cements Lenskart as a tech‑driven retailer |
