BREAKING eyewa closes $100M Series C led by General Atlantic ~150 stores across the Middle East 96% of revenue from in-house brands 5M+ orders processed in the GCC & MENA AI virtual try-on lifted sunglasses conversion ~25% Largest eyewear retailer in Saudi Arabia by store count BREAKING eyewa closes $100M Series C led by General Atlantic ~150 stores across the Middle East 96% of revenue from in-house brands 5M+ orders processed in the GCC & MENA AI virtual try-on lifted sunglasses conversion ~25% Largest eyewear retailer in Saudi Arabia by store count
Company Profile · Eyewear · GCC

eyewa.

The Middle East's largest omnichannel eyewear retailer - prescription glasses, sunglasses and contact lenses, sold online, in-app and across roughly 150 stores in the GCC.

eyewa logo
THE MARK. eyewa's wordmark in its signature teal - the brand that put affordable eyewear one tap away across five Middle East markets. Founded Dubai, 2017.
Founded2017
HQDubai, UAE
Employees~1,800
Total Raised~$130M
Latest RoundSeries C · $100M
Stores~150
The Dispatch

A Dubai eyewear shop that decided to own its own shelf

Buying a pair of glasses in the Gulf once meant a slow trip through a dozen scattered opticians, a haze of markups, and little clarity on what you were actually paying for. In 2017, two former Bain & Company consultants who had spent their whole lives squinting at the world decided that was a problem worth their careers. Anass Boumediene and Mehdi Oudghiri launched eyewa - a straightforward online store for prescription glasses, sunglasses and contact lenses aimed at the Middle East.

Seven years later, that frustration is a business with roughly 150 wholly-owned stores, more than five million orders behind it, and a $100 million cheque from one of the world's best-known growth investors. eyewa is now widely described as the largest eyewear retailer in Saudi Arabia by store count and the region's leading omnichannel eyewear hub.

The pivot that made the difference was quiet but decisive. eyewa started by reselling other companies' frames. It ended up building its own. Today, by the company's own account, about 96% of revenue comes from brands eyewa created in-house - a level of vertical control that lets it keep prices low while holding on to margin.

By The Numbers

The shape of the business

0
Wholly-owned stores
0
Orders processed
0
Revenue from own brands
0
Series C, Nov 2024

"Our mission is to become the best eyewear store in the region by making quality eye care and eyewear more affordable and accessible to all."

eyewa - founding mission
What It Does

Glasses, sunglasses and contacts - online, in-app and in-store

At its simplest, eyewa sells the things people need to see and the things they wear to look good doing it: prescription eyeglasses, blue-light lenses, fashion and polarized sunglasses, and daily, monthly and colored contact lenses. It sells them through a website, a mobile app, and a physical store network spread across five Middle East markets in the GCC and wider MENA region.

Who its customers are

eyewa's shoppers are everyday, value-conscious consumers across the Gulf - people who want quality eyewear without the traditional premium. The company reports a large and repeat customer base and counts well over half a million followers on Instagram alone, a reflection of how much of its demand is generated through digital and social channels.

The problem it solves

The Middle East eyewear market was fragmented and overpriced, with buying spread thinly across independent opticians and little transparency on value. eyewa's answer was to consolidate demand online, design its own affordable frames, and remove the friction of shopping for something you normally have to try on - while keeping physical stores for the parts of eye care that genuinely need a human: eye exams and accurate fitting.

Products & Services

What you can actually buy

Eyeglasses

Prescription glasses

Affordable full-rim, blue-light and prescription frames, many under eyewa's own in-house labels.

Sunglasses

Sun & fashion frames

Fashion and polarized sunglasses, including in-house brands such as 30Sundays and BlackOut.

Lenses

Contact lenses

Daily, monthly and colored lenses from global brands and eyewa's own line.

In-house brand

Layala colored lenses

eyewa's proprietary cosmetic colored contact lens brand, which took real share in the GCC.

Technology

AI virtual try-on

AR-powered app feature that previews frames on your face - credited with lifting sunglasses conversion ~25%.

Retail

Experience Centers

Physical stores offering eye exams, frame fitting and pickup, complementing the online platform.

Business Model

Vertical integration, dressed as convenience

eyewa runs a direct-to-consumer, omnichannel model. It designs eyewear, sells it under its own brands, and controls the path from website and app all the way to its own stores. That vertical integration is the engine behind its pricing: when you own the product, you own the margin, and you can pass savings to customers without giving up the economics.

"Both of us have suffered from poor eyesight all our lives and always felt there was a gap in the way our eyewear needs were addressed."

eyewa co-founders, on why they started
The Pivot, Visualized

From reseller to brand owner

The single most important shift in eyewa's history was moving revenue away from third-party brands and toward its own. This is roughly where that mix sits today.

In-house brands
96%
Third-party brands
~4%

Figures are approximate, based on company statements reported in press coverage of the 2024 Series C.

The Edge

How eyewa is different - and where it fits

Regional optical is a crowded field. Established chains like Magrabi and Al Jaber Optical hold the premium and clinical end; countless independent opticians hold the neighborhoods; and global online players such as Lenskart are eyeing the same Gulf demand. eyewa's separation comes from three things stacked together.

1. It owns its brands

Most retailers stock other people's products. eyewa builds its own, which is why it can be both affordable and profitable rather than choosing one.

2. It's genuinely omnichannel

The app handles discovery and virtual try-on; the stores handle exams, fittings and trust. Neither pure e-commerce nor pure retail on its own delivers that full loop.

3. It's tech-forward in a traditional category

AI-powered try-on and a data-driven approach to merchandising put it closer to a technology company than a classic optician - an advantage in a market that is still largely offline.

Where does it fit in the market? Squarely as the category leader for accessible eyewear in the GCC - the default digital-first option for millions of shoppers who once had none.

The Founders

Two operators who knew the region cold

AB

Anass Boumediene

Co-founder & Co-CEO

Former Bain & Company consultant who went on to help run foodpanda's Middle East business before co-founding eyewa - bringing deep regional operations and logistics experience.

MO

Mehdi Oudghiri

Co-founder & Co-CEO

Also ex-Bain and ex-foodpanda Middle East, Mehdi co-leads eyewa alongside Anass, sharing the CEO role in a genuine partnership at the top of the company.

Timeline

Seven years, one focus

'17

eyewa is founded in Dubai

Anass Boumediene and Mehdi Oudghiri launch eyewa as an online eyewear retailer for the Middle East.

'18

The shift to in-house brands

eyewa begins designing its own eyewear labels, moving away from reselling third-party brands.

'19

Omnichannel push begins

Physical stores and Experience Centers open to complement the e-commerce platform.

'20

Tech and Layala launch

eyewa rolls out AI-powered virtual try-on and its proprietary Layala colored contact lens brand.

'24

$100M Series C

General Atlantic leads a $100M round; eyewa hits ~150 stores and plans 100 more across the GCC.

The Money

Backed for the next 100 stores

In November 2024, eyewa closed a $100 million Series C led by General Atlantic, with participation from Badwa Capital and Turmeric Capital. It brought the company's total funding to roughly $130 million since 2017. The stated plan for the capital is refreshingly concrete: open around 100 new stores across the GCC.

$100M
Series C · Nov 2024
~$130M
Total raised
3
Series C investors
+100
New stores planned
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Interviews & product

FAQ

Quick answers

What does eyewa sell?

Prescription glasses, sunglasses, blue light glasses and daily, monthly and colored contact lenses - from both global brands and its own in-house labels.

Who founded eyewa and when?

eyewa was founded in Dubai in 2017 by Anass Boumediene and Mehdi Oudghiri, former Bain consultants who previously ran foodpanda in the Middle East.

How much funding has eyewa raised?

Around $130M total, including a $100M Series C in November 2024 led by General Atlantic with Badwa Capital and Turmeric Capital.

Where does eyewa operate?

Across five Middle East markets in the GCC and MENA region, headquartered in Dubai with a major presence in Riyadh, Saudi Arabia.

What makes eyewa different?

It's an omnichannel retailer that owns its brands - roughly 96% of revenue is in-house - and uses technology like AI virtual try-on alongside physical stores for eye exams and fittings.

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