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Eyewear retailer eyewa raises US$2.5 mn in Pre-Series B Bridge Round

Eyewear retailer eyewa raises US$2.5 mn in Pre-Series B Bridge Round
Eyewear retailer eyewa raises US$2.5 mn in Pre-Series B Bridge Round

eyewa, a UAE-based e-commerce eyewear company raised US$2.5 million from EQ2 Ventures, Wamda Capital, and Nuwa Capital in the pre-series B bridge round.

In three years, eyewa has raised a total capital of US$11.1 million. In the year 2018, US$1.1 million was raised in the seed round and US$7.5 million for series A round in mid-2019.

Anass Boumediene, co-founder, and co-CEO of eyewa stated that by making eyewear more accessible in the region, eyewa has seen rapid growth over the last year. With a unique portfolio, affordable products, and exceptional online shopping experience, they have made the life of their customers easy.

eyewa will leverage additional funds to double the quick expansion experienced by the e-commerce sector during the lockdown period and also brace its position in the online eyewear business in MENA by building new capabilities. 

The co-founder and co-CEO, Mehdi Oudghiri, further added to Boumediene’s statements that with this capital, they will implement innovative solutions, develop the product range and offer exceptional customer service to accelerate the disruptions in  MENA's  eyewear retail sector.

eyewa’s growth and scalability potential has helped investors gain confidence in its business model.

The Executive Chairman of Wamda, Fadi Ghandour, said that he has seen an immense potential in the company to lead in the future. He further added that the founders responded very efficiently to the challenges posed by the outbreak of the pandemic, which has reassured their confidence in the company.

The talented and dedicated team keeps finding ways to meet the customer needs, stated Patrick Thiriet, CEO of EQ2 Ventures. He also stated that ever since its launch, eyewa has been an exemplar for the MENA innovation ecosystem.

Nuwa Capital's Managing Partner, Khaled Talhouni, also shared his views about investing in eyewa. The investment in eyewa seems to meet the goal of Nuwa Capital of supporting the region's most remarkable founders, expressed Talhouni.

Being one of the largest eyewear online retailers in UAE and KSA currently, eyewa specializes in eyeglasses, sunglasses, prescription contact lenses, and color contact lenses and a huge selection catering towards the latest fashion trends.

Source - https://www.benzinga.com/pressreleases/20/08/n17024540/eyewa-raises-us-2-5million-pre-series-b-bridge-round

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Bhushan Tambe

A qualified computer graduate, Bhushan Tambe always nurtured a passion for words. Post his education, he decided to transform his penchant of penning down poetry and stories into a full-time career. Presently, Bhushan writes numerous articles for cuereport.com and a few other websites, on subjects spanning business, finance, and the like.