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Riyadh- and Dubai-headquartered eyewear startup Eyewa closed a USD 100 mn series C led by US-based General Atlantic, with participation from Badwa Capital and Turmeric Capital, according to Menabytes. There’s no information about the specific contributions of each investor, and the size of shares they received in return.
Eyewa plans to use the funds to expand its footprint by opening 100 new stores in 2025, while expanding to Qatar. It also plans to launch a production facility and fulfillment center in Riyadh in the next few months.
Previous funding rounds: The retailer previously raised USD 21 mn in a series B round co-led by Kingsway Capital and Nuwa Capital in 2021, USD 7.5 mn in series A funding in 2019, and a USD 1.1 mn seed round in 2018.
About Eyewa: Eyewa operates an e-commerce platform alongside 150 retail stores across Saudi Arabia, the UAE, Kuwait, Bahrain, and Oman. The company offers a range of eyewear products, including prescription glasses, sunglasses, blue-light-blocking glasses, and contact lenses, according to its website. Eyewa began its offline expansion in 2021, debuting its first store in Dhahran, Menabytes added. The company was founded by Anass Boumediene (LinkedIn), Mehdi Oudghiri (LinkedIn), and Abdullah AlRugaib (LinkedIn).
