Kodano Group funding news – Poland-based Kodano Group Raises €9.3 Million in Funding

The raised capital will be used to accelerate its expansion into European markets and enhance the development of its laboratory, where optical lenses are produced.

There is no doubt that vision problems are becoming increasingly common. According to the World Health Organization, over 2 billion people worldwide struggle with visual impairments , and experts estimate that this number could double over the next 30 years.

While digitalization and technological advancements offer numerous benefits, they are not without consequences for our eye health. Both specialists and users confirm this - it's estimated that as many as 77% of adults who use digital devices daily experience chronic eye strain.

Read also - Harmonic Security funding news – London-based Harmonic Security Raises $17.5Million in Series A Round Funding

Unfortunately, this problem is only expected to worsen, especially with the growing popularity of remote work and the increasing shift of daily tasks to digital screens. As a result, the demand for optical products continues to rise globally. One of the market leaders in Poland is Kodano, a company with a network of over 100 optical stores, which it continues to expand, including through franchising.

The company takes a modern approach with an omnichannel strategy that includes the largest online store for contact lenses and glasses in Poland, as well as a network of 100 contact lens vending machines located across the country. Given the growing demand for optical products, Kodano, which already operates online sales in Romania, the Czech Republic, Slovakia, Hungary, and Lithuania, plans to intensify its efforts to expand into European markets. To achieve this goal, the group secured EUR 9,3 million from Vinci Da Gama, a fund managed by Vinci S.A., specializing in investments in growing companies.

Mateusz Matula, CEO of Kodano Group said, "We plan to allocate the funds raised to expand our network of stationary stores in selected CEE markets, as well as boosting e-commerce sales across European countries. We are also working intensively on developing our laboratory, where we manufacture optical lenses, which will allow us to broaden Kodano Group's product range and increase profitability, Additionally, we are continuously expanding our franchise network and aim to further develop our automated contact lens vending machines, which combined with a mobile app, offer customers almost instant and convenient access to selected products,".

Marcin Adamczyk, Vice President of Vinci S.A said, "The investment in Kodano Group is a continuation of our fund's mission to support domestic companies with international ambitions. We believe that the team's experience and the chosen brand development strategy, combined with the observed market dynamics, will enable Kodano to become a significant player in the European eyewear and contact lens market within a few years."

About KODANO

The KODANO S.A. group includes: includes online stores with contact lenses throughout Europe, online stores with KODANO glasses and a network of optical stores KODANO Optyk. They are also a manufacturer of vending machines, which are the basis of the lensomaty.pl network.