Eyewa Bags Investment from General Atlantic, Remains Tight-Lipped

Eyewa Bags Investment from General Atlantic, Remains Tight-Lipped

By Staff Writer, 17 May 2024

Eyewear startup Eyewa, based in Dubai, has secured fresh investment from top US private equity firm General Atlantic, as reported by The Information on Tuesday (May 14).

Although the investment was made earlier this year, Eyewa has not yet officially announced it, and details regarding the size of the investment and other participating investors remain undisclosed.

The company's latest publicly disclosed funding round was a Series B round of $21 million, led by Kingsway and Nuwa Capital in June 2021.

Eyewa has seen significant growth since then, with its store network expanding to over 120 locations, nearly 100 of which are situated in Saudi Arabia. The startup inaugurated its inaugural store in Dahran in 2021.

Co-founder and co-CEO of Eyewa, Mehdi Oudghiri, emphasized the strategic importance of retail expansion in a previous interview with MENAbytes.

Oudghiri stated that their move into physical retail was driven by a desire to be closer to customers, explaining, "We started as an ecommerce company because that is where the biggest market gap was, as no one was offering high-quality and affordable eyewear products online with a good customer experience. Expanding our reach to offline will complement our strong online presence and cement our position as a leading player in the eyewear industry."

Source: MENABytes

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