Excerpts from the article by Lora Kolodny on Tech Crunch
Hubble Contacts raises $7.2 million to deliver disposable lenses direct to consumers
At least 30 million people wear contact lenses in the U.S., but somehow, less than one-third of this population wears daily disposable lenses, which are deemed the most hygienic and healthiest option by eye health professionals.
A New York City startup called Hubble Contacts, co-founded by Ben Cogan and Jesse Horwitz, wants to make daily disposable lenses the norm here the way they are in most of Europe, Japan and other markets globally.
Their newly launched startup promises customers a high quality but more affordable option than what’s available from traditional and online sellers of contact lenses, like Walmart, Walgreens or 1-800-Contacts.
Hubble can offer lower prices, in part, because the company controls its own supply chain. It has partnered with a Taiwan-based factory to manufacture a Hubble brand of FDA-approved lenses in fully recyclable, branded packaging.
If their business model sounds familiar, that’s because companies like Harry’s, Dollar Shave Club, Julep, NatureBox, and others have succeeded with “direct-to-consumer,” brands and subscription commerce services in several categories by now.
In fact, Cogan previously worked for Harry’s (HF Global Inc.), the rapidly growing brand that makes and sells razors and other men’s grooming products on a subscription basis, and at retail.
Following in the footsteps of these “vertically integrated ecommerce” startups, Hubble has been able to raise $7.2 million in early stage venture funding to-date (in a seed round and extension).
Hubble’s backers include Founders Fund, Greycroft Partners, Wildcat Capital Management, Two River, and two individual angels, Oscar Salazar a co-founder of Uber, and Brian Levy, formerly Bausch and Lomb’s Chief Medical Officer.
Read the full article on Tech Crunch