Polish startup Kodano Group secures €9.3M from the Vinci Da Gama Fund: Know more

Polish startup Kodano Group, a manufacturer and distributor of lenses and eyewear frames, announced on Thursday that it has secured €9.3M funding from the Vinci Da Gama Fund, managed by Vinci S.A.

The company will use the funds to accelerate its expansion into European markets and advance the development of its laboratory, where optical lenses are produced.

“We plan to allocate the funds raised to expand our network of stationery 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,” says Mateusz Matula, CEO of Kodano Group.

The funding announcement comes as the company focuses on expanding its e-commerce model in the CEE region.

“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” adds Matula.

Kodano: An eyewear store

Founded by Mateusz Matula and Jacek Młodawski, Kodano is the largest contact lens store in Poland with a network of over 100 optical stores, which it continues to expand, including through franchising.

The Polish company opted for 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.

Currently, the company is operating in Romania, the Czech Republic, Slovakia, Hungary, and Lithuania.

The investor

The Vinci Da Gama fund, established by Bank Gospodarstwa Krajowego is managed by Vinci S.A.

The fund invests between €2 and €21M in companies in their expansion and maturity phases, particularly those with plans for international expansion.

Vinci S.A. also manages two other funds – HiTech, which focuses on supporting innovative companies in the advanced technology sector, and IQ, which concentrates on groundbreaking scientific research projects.

“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,” says Marcin Adamczyk, Vice President of Vinci S.A.