eyewa raises USD$21 million in its latest Series B funding

eyewa raises USD$21 million in its latest Series B funding

eyewa today announced its latest Series B funding round of USD $21 million. The round, which was co-led by Kingsway and Nuwa Capital, with participation from French Partners, Endeavor Catalyst, Derayah, Palm Drive, and Hardy Capital, will support the company with its ambitious expansion plans, further investment in top-tier technology and product teams, as well as best in class retail and omnichannel technology.

Anass Boumediene, Co-Founder of eyewa, comments, “This fundraise will boost our expansion plans and will enable us to offer a better customer experience in the eyewear vertical, both online and offline. The customer response since our launch four years ago has been formidable and we count on keeping our promise of offering the best products at the best price across the region. While we have focused our first few years in our home markets of UAE and KSA, we are now expanding beyond to the rest of MENA and will bring our successful formula of affordable eyewear and amazing customer experience to a wider audience.”

This USD $21 million series B funding round brings the total funding to date of eyewa to USD 30 million, after eyewa had raised a $1.1 million seed round in 2018 led by EQ2 Ventures and a $7.5 million series A funding round in 2019 led by Wamda Capital.

Khaled Talhouni, Managing Partner of Nuwa Capital comments, “We’ve been working with Anass and Mehdi since the beginning of their journey and it is such a privilege to have a front row seat to the development of a company as remarkable as eyewa. A big part of our thesis at Nuwa Capital is to focus on the next evolution of retail. The confluence of offline, online and private label-driven commerce is at the heart of this thesis, and we would be hard-pressed to find a team that has executed as well as eyewa has on this concept in the region. Joining this latest round of financing is a testament to our strong belief in the company and the team to deliver on building a unique regional champion for direct-to-consumer commerce.”

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