UAE Eyewear Retailer eyewa Looks Beyond Gulf After $21M Funding cairoscene.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cairoscene.com Daily Mail and Mail on Sunday newspapers.
eyewa closes $21 million Series B
UAE-based eyewa has closed its Series B funding round, raising $21 million. The round was co-led by Kingsway and Nuwa Capital, with participation from French Partners, Endeavor Catalyst, Derayah, Palm Drive, and Hardy Capital.
Founded in 2017 by Mehdi Oudghiri and Anass Boumediene, eyewa has grown to become the Middle East’s largest online eyewear retailer.
This investment will be used to support eyewa’s expansion plans, investing in its technology and product teams as well as investing in its retail and omnichannel strategy.
This $21 million Series B funding round brings the total funding to date of eyewa to $30 million. Eyewa previously 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.
UAE startup eyewa raises $21m in Series B funding round gulfbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfbusiness.com Daily Mail and Mail on Sunday newspapers.
Start-ups in the Mena
region attracted a record $1 billion in funding last year, according to data platform Magnitt.
The value of the UAE’s retail e-commerce market rose by 53 per cent to a record $3.9bn in 2020, largely driven by the digital shift in consumer shopping habits amid the Covid-19 pandemic, according to a report by Dubai Chamber of Commerce and Industry.
The Series B funding round, which was
led by Kingsway and venture capital firm Nuwa Capital, with participation from French Partners, Endeavor Catalyst, Derayah, Palm Drive and Hardy Capital, will support the company s expansion plans, its retail and omni-channel platforms and allow it to further invest
Eyewa raises $21m in Series B funding round tradearabia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tradearabia.com Daily Mail and Mail on Sunday newspapers.