ⓘ Featured image: eyewa co-founders, from left: Anass Boumediene, Mehdi Oudghiri, and Elias Tsikhlaki
UAE’s eyewa, the e-commerce player that specialises in online retail of sunglasses, eyeglasses, prescription contact lenses and coloured contact lenses last week announced that it has raises a $2.5 million in a Pre-Series B bridge round in which Wamda Capital, EQ2 Ventures and Nuwa Capital participated. The company since it’s launch in 2017, eyewa has raised a total of $11.1 million.
The company will utilise the fresh funds to double down on its rapid expansion and build new capabilities to further strengthen its position in the online eyewear space in the MENA region.
eyewa was selected among the top 100 Arab Startups by the World Economic Forum last year, for its contribution to the region’s digital transformation. The company has now become the largest online eyewear retailer in the UAE and KSA.
Speaking of the development, Khaled Talhouni, Managing Partner at Nuwa Capital in a statement said,
“We’ve built our thesis around backing founders who are driving rapid transformation within their respective industries and building for long term change, and that’s exactly what Anass and Mehdi are doing,”
Adding further, Talhouni said,
“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 optimize as needed. DTC remains one of the most under-leveraged opportunities in our region. 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.”
Mehdi Oudghiri, co-founder and co-CEO quoted,
“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.”
“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. Khaled and the team are veterans of the ecosystem in the region and are bringing a new approach to VC investment with Nuwa Capital. We are very excited to have them part of the eyewa family,”
Sharing his thoughts on investing in eyewa, Patrick Thiriet, CEO of EQ2 Ventures, said,
“Ever since it was launched, eyewa has been a role model for the MENA innovation ecosystem. Its talented, dedicated team keeps on finding ways to better serve consumers’ needs, raising the bar for all players in the eyewear market. We are, more than ever, proud to be part of their journey.”