Eyewa, a Dubai-based online eyewear retailer has raised $2.5 million in a pre-Series B round from Nuwa Capital, Wamda, and EQ2 Ventures, the startup announced today. The round takes total investment raised so far by Eyewa to over $11 million. It had raised $7.5 million in a Series A in April 2019 led by Wamda Capital. EQ2 Ventures (which was previously known as Equitrust) had also participated in it.
It is the first investment announced by Nuwa Capital, the $100 million fund launched by Wamda’s former Managing Partner Khaled Talhouni earlier this year.
Founded in 2017 by Anass Boumediene and Mehdi Oudghiri, Eyewa’s online platform sells eyewear including sunglasses, prescription glasses, and contact lenses, mainly in the United Arab Emirates, Saudi Arabia & Kuwait. It also sells products available on its platform to customers in the United States for a flat delivery fee of $10. For customers in UAE, Saudi & Kuwait, the delivery is free.
The ecommerce platform features products from all the leading eyewear brands including Ray-Ban, Ray-Ban, Persol, Dolce & Gabbana, Prada, Emporio Armani, Burberry, Fendi, Nike, and Lacoste.
Eyewa in a statement said that its business has doubled during the lockdown without sharing exact details or numbers, “The company saw a surge in new customers looking for a better shopping experience and a more accessible, diverse line of products,” noted the statement.
The startup that competes with different traditional and digital retailers in the space claims to be the leading online eyewear retailer in the Middle East & North Africa.
Eyewa said that it will use the investment for growth and to further cement its position as the leading online retailer in their segment.
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