Eyewa raises undisclosed funding round from General Atlantic

Eyewa raises undisclosed funding round from General Atlantic

UAE-based eyewear startup “eyewa” has raised an undisclosed funding round from General Atlantic.

Founded in 2017 by Mehdi Oudghiri and Anass Boumediene, eyewa has grown to become the Middle East’s largest online eyewear retailer.

eyewa closed its Series B funding round at $21 million in 2021, co-led by Kingsway and Nuwa Capital, with participation from French Partners, Endeavor Catalyst, Derayah, Palm Drive, and Hardy Capital.

General Atlantic has recently received $30 million investmen from Saudi Venture Capital (SVC).

Source: Menabytes

Dubai-based eyewear startup has quietly raised fresh funds from the leading US private equity firm General Atlantic, The Information reported on Tuesday. The investment in Eyewa was made earlier this year but hasn’t been publicly announced by the firm yet. The specifics of the round, including size and other investors (if any) are not immediately clear.

The most recent investment round publicly disclosed was a $21 million Series B, led by Kingsway and Nuwa Capital, which the company secured in June 2021.

Eyewa has experienced substantial growth since then, expanding its network of stores to over 120, nearly 100 of which are in Saudi Arabia. The startup opened its first store in 2021 in Dahran.

Mehdi Oudghiri, the co-founder and co-CEO of Eyewa, told MENAbytes in a previous