Eyewa raises USD 100 mn in series C funding led by General Atlantic

Eyewa secures more funding from General Atlantic: Dubai and Riyadh-based eyewear retailer Eyewa raised USD 100 mn in a Series C funding round led by US private equity firm General Atlantic, increasing its total funding to USD 130 mn, according to a post on LinkedIn. Last May The round also saw participation from Badwa Capital and Singapore-based Turmeric Capital.

REMEMBER- Eyewa secured an undisclosed investment from General Atlantic in May. It is unclear whether the earlier funding was part of the Series C funding round.

Next up: Qatar + a bigger push in KSA. Eyewa plans to continue its expansion with the goal of opening at least 100 additional stores across six countries by 2025, including entering Qatar for the first time, TechCrunch reports. The company is also set to establish a production facility and fulfillment center in Riyadh.

About Eyewa: Founded in 2017 by Mehdi Oudghiri (LinkedIn) and Anass Boumediene (LinkedIn), the startup is the largest online eyewear retailer in the region, offering products from both its in-house brands and international fashion brands. Eyewa has expanded into the retail sector with 150 stores, including 100 in Saudi Arabia, where it is the biggest eyewear retailer by store count. The company is profitable and is growing its revenues at a 50% rate y-o-y, the founders say.