Eyewa, the largest eyewear e-commerce specialist in the UAE and Saudi Arabia which commenced operations in 2017, has raised US$1.1mn from investors in a seed round led by Equitrust, the investment arm of Choueiri Group.
Founded by Anass Boumediene and Mehdi Oudghiri, the e-commerce platform plans to expand operations in the GCC in 2018.
Oudghiri said,“There is tremendous opportunity in eyewear e-commerce. It is a proven business model with many success stories in different regions; yet until now, we didn't have a proper solution in the GCC. Consumers are hungry for better value propositions beyond the traditional brick-and-mortar experience. We plan to make eyewa the reference in people's mind when it comes to buying contact lenses, sunglasses and eyeglasses online."
Boumediene said: “The current business environment is ideal to start a new venture. There is a strong interest for startups, and governments are not only promoting, but also supporting entrepreneurship in the region. We also have seen strong interest from investors across the ecosystem, especially since we are in e-commerce, the fastest growing channel for retail. Thanks to our funding, we are now ready to scale our operations across the GCC, beyond our UAE home market."
Eyewa plans to change the eyewear retail game by becoming the leading tech-enabled eyewear specialist in the region. The two co-founders are determined to offer customers an innovative online retail experience, a press release said.