Home-grown online platform for eyewear, eyewa raises $2.5 million through a Pre-Series B Bridge round from Nuwa Capital, Wamda Capital and EQ2 Ventures.
“Our success in the past three years has been driven by our efforts to disrupt the traditional eyewear industry in the region. We offer exclusive and trendy yet affordable eyewear, coupled with best-in-class customer experience,” said eyewa co-founder, Mehdi Oudghiri. “These funds will allow us to accelerate our disruption of MENA’s eyewear retail sector through the implementation of innovative tech solutions, expanding our product portfolio and offering best-in-class customer service.”
eyewa specialises in online retail of sunglasses, eyeglasses, prescription contact lenses and coloured contact lenses. It offers a highly customised user experience throughout the discovery, ordering, packaging and delivery process. Operating in the UAE and Saudi Arabia, eyewa saw its business double during the lockdown as many customers switched to online shopping.
“E-commerce companies with a DTC offering like eyewa are reinventing the retail experience by creating both an online and offline experience to interact with customers while remaining nimble enough to scale and optimise as needed,” stated Khaled Talhouni, managing partner, Nuwa Capital. “eyewa has rapidly become the leading contender in the eyewear retail space, competing with both digital and traditional retailers. This is a very fitting first investment for us, as we are uniquely positioned to help accelerate the company’s growth across MENA and particularly in KSA.”
Founded in August 2017 by Anass Boumediene and Oudghiri, eyewa has seen considerable growth over the years. Combining a seed round in January 2018 followed by a Series A round of $7.5 million, eyewa had raised total funding to $8.6 million in 2019. With the additional $2.5 million, eyewa plans to capitalise on the rapid expansion that e-commerce has witnessed during the pandemic and build new capabilities to further strengthen its position in the online eyewear space in the MENA region.
What will be the role of stores during the holiday season inSeptember 21, 2020 | By RetailME Bureau
British online fashion & lifestyle retailer, ASOS launches its first circular fashionSeptember 30, 2020 | By RetailME Bureau
British retailer Marks & Spencer (M&S) brings back Shwopping recycling programme inSeptember 28, 2020 | By RetailME Bureau
Eagle Hills Sharjah signs up Every Day Fresh Hypermarket to meet the
Saudi Arabia-based grocery retailer BinDawood Holding reportedly sets IPO price, indicates Reuters.
For the sixth consecutive year, UAE-based supermarket chain Choithrams continues supporting UN
Having been inducted into the Spinneys incubator programme, home-grown, online tea brand
UAE-based Urban Foods, a strategic partnership between Meraas and Dubai Holding, is on
Operated in the UAE by Majid Al Futtaim, Carrefour launches click &
British grocery retail chain Tesco strengthens commitment to create employment opportunities through
Waitrose & Partners UAE opens a convenience store in Al Barari, Dubai.
Amazon-owned Whole Foods Market launches online-only store in Brooklyn, New York. This
Grandiose Supermarket opens in Dubai Sports City, continuing to expand its presence
UAE-based retailer Lulu Group has signed an agreement with the Royal Commission
UAE-based supermarket chain Spinneys has announced the winners of its incubator programme
Several local retailers rank high as best workplaces for women in the
San Francisco-based make-up brand and part of LVMH, Benefit Cosmetics and Tiny
Retail Abu Dhabi’s ‘Unbox Amazing’ generates over AED2 billion in sales, according
Tech investments surge amid COVID-19, revealed the 2020 Harvey Nash/KPMG CIO Survey,
An initiative by Emirati businessman Abdul Aziz Al Ghurair, the Abdul Aziz
The Dubai Chamber and Tel Aviv Chamber will foster bilateral cooperation through
British online fashion & lifestyle retailer, ASOS launches its first circular fashion
According to the National Retail Federation (NRF), it will be a “historic
Following the success of the Social Investment Fund’s first programme, ‘Together We
Soon to be launched beauty tech start-up, Secret Skin seeks to “meaningfully”
A Meraas development, Al Khawaneej Walk is now open in Dubai. It
British retailer Marks & Spencer (M&S) brings back Shwopping recycling programme in