Eyejusters has engineered and designed adjustable focus glasses. The glasses have a small, hidden dial that allows the user to ‘change prescription’ to correct their own vision. They enable clear vision at a reasonable price for those in the developing world without access to eyecare services, while selling adjustable focus reading glasses to the ageing population in developed countries.
A pair of glasses is life-changing. Clear vision empowers people to access employment and education, helping them to secure their livelihoods. Studies suggest glasses have the potential to increase monthly income by 20% and productivity by 35%, while a WHO study estimated the global economic impact of lack of glasses at $202bn.
Eyejusters address a major public health issue: the lack of trained optometrists in developing nations. Their glasses enable affordable distribution by cutting out expensive/hard-to-reach medical consultation. Through a focus on commercial distribution and collaboration with local companies or organisations, Eyejusters also supports employment in distribution and sales in developing countries.
The Impact Investment
One of our Clearly Social Angels investors had been working with Eyejusters to help scale the business, and she brought the investment to the group. Working with ClearlySo, Eyejusters secured a £360k equity investment from one of the angels in our investor network.
With the investment from this strategic angel, Eyejusters is funding the development and production of their new product, which they will launch in Summer 2015. The investment allowed them to build up a state-of-the-art production line, manufacturing their specialised lens units in the UK. Eyejusters has also been able to engage a renowned agency to create their new look and branding.