INFOGRAPHIC: Startup Funding in Africa and the Middle East

UAE eyewear retailer eyewa receives $100M series C fund to solidify and expand operations
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UAE eyewear retailer eyewa receives $100M series C fund to solidify and expand operations

eyewa, a UAE-based eyewear retailer recently closed a $100 million Series C funding round, led by General Atlantic with participation from Badwa Capital and Turmeric Capital.

This funding follows an undisclosed investment from General Atlantic last May after eyewa secured $21 million in its Series B round in 2021, co-led by Kingsway and Nuwa Capital along with other investors.

Established in 2017 by Mehdi Oudghiri and Anass Boumedien, eyewa is the region's fastest-growing online eyewear retailer, with headquarters in Riyadh and Dubai. The company combines e-commerce with physical stores to meet the customers' needs while simultaneously nurturing sub-brands such as The Optical Club, which offers simplified, affordable eyewear options.

The recent funding is timely, as the company will use the investment to open a pioneering production hub in Riyadh in the first quarter of 2025, featuring a large warehouse, a fulfillment center, and a state-of-the-art lens manufacturing unit.