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Dubai’s Eyewa raises recent funds from Basic Atlantic for its omnichannel eyewear platform: report

Dubai’s Eyewa raises recent funds from Basic Atlantic for its omnichannel eyewear platform: report 

Dubai-based eyewear startup has quietly raised recent funds from the main US non-public fairness agency Basic Atlantic, The Data reported on Tuesday. The funding in Eyewa was made earlier this 12 months however hasn’t been publicly introduced by the agency but. The specifics of the spherical, together with dimension and different traders (if any) will not be instantly clear.

The latest funding spherical publicly disclosed was a $21 million Collection B, led by Kingsway and Nuwa Capital, which the corporate secured in June 2021.

Eyewa has skilled substantial progress since then, increasing its community of shops to over 120, practically 100 of that are in Saudi Arabia. The startup opened its first retailer in 2021 in Dahran.

Mehdi Oudghiri, the co-founder and co-CEO of Eyewa had advised MENAbytes in a earlier interview that they expanded into retail to be as shut as potential to their clients, “We began as an ecommerce firm as a result of that’s the place the most important market hole was, as nobody was providing high-quality and inexpensive eyewear merchandise on-line with an excellent buyer expertise. Increasing our attain to offline will complement our robust on-line presence and cement our place as a number one participant within the eyewear trade.”

Based in 2017 by Mehdi Oudghiri and Anass Boumediene, Eyewa sells eyewear, together with prescription glasses, sun shades, blue gentle glasses, colour contact lenses, and corrective contact lenses, via its web site, cellular apps, and retail shops. The startup sells glasses and lenses from its in-house manufacturers; Blackout, Layala, and 30Sundays, plus worldwide trend manufacturers like Hugo, Tommy Hilfiger, and Guess.

It at the moment sells its merchandise throughout GCC, with each retail and on-line presence in all six markets of the area. In accordance with its web site, Eyewa is the most important on-line eyewear retailer within the area.

Eyewa is Basic Atlantic’s second funding within the area. The PE agency has beforehand invested in Property Finder by main a $120 million spherical within the proptech statrtup in 2018.

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