QSpex develops automated lens manufacturing systems that produce high-quality spectacle lenses—including polarized, anti-reflective, and photochromic—faster and at lower cost than traditional processes. The company’s second-generation products, the Nano Lab and Mini Lab, add automation to reduce technician time and accelerate production. The Nano Lab can produce up to 20 pairs per hour and the Mini Lab up to 120 pairs per hour. QSpex says these systems will change how lenses are manufactured and distributed and plans rollout of the Nano Lab and Mini Lab this year alongside a refocused delivery platform. The company was founded in 2007 and is based in Alpharetta, Ga. The recent financing will fund the launch and commercialization of these second-generation systems. QSpex Technologies develops the QSpex Premium Lens System, which allows vision-care providers to produce premium progressive and single-vision spectacle lenses in-office in roughly 35 minutes with a seven-layer, hydrophobic/oleophobic AR treatment and options for polarized and photochromic coatings. The company was founded in 2007 and is led by CEO Steve Martin, with Dr. Kai Su as founder and chief scientific officer; Martin previously founded CIBA Vision and CIBA Vision Ophthalmics. QSpex is preparing a U.S. product launch and plans to greatly expand production capacity to support that rollout. Management intends to triple the existing Field Sales and Technical Support staff while introducing a Photochromic treatment and a Short Corridor Progressive design to its product line. The company positions its technology as a disruptive in-office alternative to traditional spectacle lens supply, shortening time-to-finish and enabling practitioners to offer premium lenses directly to patients.

Total raised

$36M

Funding rounds

2

Latest round

Series E

Latest activity

Jan 2014