UAE’s Eyewear E-commerce Platform eyewa Raises $2.5 million

UAE-based eyewear e-commerce platform, eyewa, has secured a $2.5 million pre-series B Bridge round investment, led by Nuwa Capital, Wamda Capital and EQ2 Ventures. This brings eyewa’s total funds raised since launching in 2017 to $11.1 million.

The platform offers users a unique online retail experience for sunglasses, prescription glasses and contact lenses, standing as the largest online eyewear retailer in the UAE and KSA - a position cemented by the recent e-commerce spike since lockdown and closures of physical retail spaces. According to eyewa, the company doubled its business during the past few months as many shoppers have started to gravitate towards online buying.

"E-commerce companies with a DTC offering like eyewa are reinventing the retail experience by creating both an online and offline experience to interact with customers while remaining nimble enough to scale and optimize as needed. DTC remains one of the most under-leveraged opportunities in our region,” said Khaled Talhouni, Managing Partner at Nuwa Capital. "eyewa has rapidly become the leading contender in the eyewear retail space, competing with both digital and traditional retailers.”

The startup has also nabbed international acclaim. Last year, eyewa was selected as one of the top 100 Arab startups by the World Economic Forum for advancing the region’s digital transformation. The fresh funds acquired by the startup will be funneled into a regional expansion and continue its product development to accommodate the e-commerce becoming a main source of shopping for many users in the MENA region.

“These funds will allow us to accelerate our disruption of MENA’s eyewear retail sector through the implementation of innovative tech solutions, expanding our product portfolio and offering best in class customer service,” said Mehdi Oudghiri, co-founder and co-CEO.