Participated · Series C · Nov 2024

Eyewa operates a direct‑to‑consumer e-commerce platform and a rapidly growing network of wholly owned retail stores, selling prescription glasses, sunglasses, blue‑light glasses and contact lenses across five Middle East markets. The company has developed nine proprietary brands and says 96% of revenue now comes from its in‑house labels, which it uses to keep prices affordable. Since launching physical retail in December 2020 the startup has grown to 150 stores and employs about 1,300 people, owning the full customer journey including in‑store eye exams. Eyewa reports it is profitable and growing revenue at over 50% year‑over‑year. The company plans to add at least 100 more stores across six countries (including a 2025 entry into Qatar) and will open a production facility and fulfillment centre in Riyadh next quarter. Eyewa was founded by former Bain consultants who initially sold third‑party brands online before launching their own labels to address unmet regional demand. eyewa is an online eyewear retailer that offers affordable eyewear and a customer-focused e-commerce experience across multiple Middle Eastern markets. The company was founded in 2017 by Anass Boumediene and Mehdi Oudghiri and has built a trusted reputation in the UAE, KSA, Kuwait, Qatar, Oman and Bahrain. eyewa plans to pursue an omnichannel strategy, opening physical stores designed to mirror its successful online experience while leveraging technology across customer interactions. The company intends to expand beyond its initial home markets of UAE and KSA into the rest of MENA. eyewa will use new capital to fund expansion and to further invest in top-tier technology and product teams and retail and omnichannel technology. The business recently completed a Series B fundraise, improving its financial runway for these initiatives. eyewa is a Dubai-based eyewear e-commerce company that sells sunglasses, eyeglasses, prescription contact lenses and color contact lenses. The company offers a wide choice aligned with the latest fashion trends and a highly customised user experience across discovery, ordering, packaging and delivery. eyewa is co-founded and led by Anass Boumediene and Mehdi Oudghiri. It raised a US$2.5M pre-Series B bridge round, bringing total capital raised to US$11.1M. Backers in the round included Wamda Capital, EQ2 Ventures and Nuwa Capital. The company intends to use the funds for rapid expansion in the online eyewear space in the MENA region. eyewa is now the largest online eyewear retailer in the UAE and KSA.