Krakow-based Kodano, which manufactures and distributes lenses and eyewear, has secured €9.3 million (PLN 40 million) to expand into European markets and enhance the development of its laboratory. The round came from the Vinci Da Gama Fund, managed by Vinci S.A, as Vestbee was told.
- Founded in 2016 by Mateusz Matula and Jacek Młodawski, Kodano has become a prominent Polish manufacturer and distributor of lenses and eyewear. The company operates a network of over 100 optical stores, with a strong emphasis on franchising, and has embraced an omnichannel strategy that seamlessly integrates its physical retail presence with a dynamic e-commerce platform.
- Kodano has installed 100 contact lens vending machines across the country and conducts online sales throughout Central and Eastern Europe, including Romania, the Czech Republic, Slovakia, Hungary, and Lithuania.
Details of the deal
- The funding round was supported by the Vinci Da Gama Fund, established by Bank Gospodarstwa Krajowego and managed by Vinci S.A. This fund invests between €2 million and €21 million in companies during their expansion and maturity phases, with a particular focus on those planning for international growth.
"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," Vice President of Vinci S.A, Marcin Adamczyk, stated in a press release.
- Kodano Group plans to use the funds to expand its stationary stores and boost e-commerce sales in Europe. They will develop their optical lens manufacturing lab, broaden their product range, and enhance their franchise network. Additionally, they aim to improve automated contact lens vending machines with a mobile app for convenient customer access.
"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," comments Mateusz Matula, CEO of Kodano Group.
