Eyewear e-retailer eyewa secures $2.5b in new funding

Dubai: The UAE based eyewear e-tailer, eyewa, pulled in nearly $2.5 million in pre-Series B bridge funding, with the investors being Wamda Capital, EQ2 Ventures and Nuwa Capital.

This is the online retailer third funding round, with the earlier ones being a mid-2019 Series A round of $7.5 million and the other of $1.1 million in a seed round in 2018. The ‘bridge’ fund brings the total raised capital to $11.1 million in three years.

Eyewa - now one of the largest online eyewear retailers in UAE and Saudi Arabia - saw business double during the.

The additional capital will aid upcoming expansion plans in the region. “The founders’ response to the challenges posed by COVID-19 outbreak does not fall short of efficiency and reassures our confidence in eyewa as a unique e-commerce,” said Fadi Ghandour, Executive Chairman of Wamda.