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# INFOGRAPHIC: Startup Funding in Africa and the Middle East — Week 48
- URL: https://www.techloy.com/infographic-startup-funding-in-africa-and-the-middle-east-week-48-2024/
- Published: 2024-11-29T11:13:11.000Z
- Updated: 2024-11-29T11:13:11.000Z
- Description: Here are the venture funding activities we tracked in the Middle East and African region this week – including eyewa, Hydrobox, Sylndr, Solarbox, PTS, and Raknida.
- Author: David Adubiina
- Tags: / Startups, Tech in the Middle East, Tech in Africa, / Money

- UAE eyewear retailer **eyewa** receives $100M series C fund to solidify and expand operations
- Kenyan energy startup **Hydrobox** gets $9M debt funding to support hydro projects in Kenya
- Egypt’s online automobile marketplace **Sylndr** closes $7.5M capital facility to boost customer experience
- Senegal’s e-mobility and energy solutions startup **Solarbox** lands $1M pre-seed funding to drive solar-powered e-mobility solutions
- Moroccan fintech startup **PTS** bags $500,000 investment for equity stake
- Nigerian art-tech startup **Raknida** banks $100k grant to expand into the US

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### UAE eyewear retailer **eyewa** receives $100M series C fund to solidify and expand operations 

eyewa, a UAE-based eyewear retailer recently closed a $100 million Series C funding round, led by General Atlantic with participation from Badwa Capital and Turmeric Capital.

This funding follows an undisclosed investment from General Atlantic last May after eyewa secured $21 million in its Series B round in 2021, co-led by Kingsway and Nuwa Capital along with other investors. 

Established in 2017 by Mehdi Oudghiri and Anass Boumedien, eyewa is the region's fastest-growing online eyewear retailer, with headquarters in Riyadh and Dubai. The company combines e-commerce with physical stores to meet the customers' needs while simultaneously nurturing sub-brands such as The Optical Club, which offers simplified, affordable eyewear options.

The recent funding is timely, as the company will use the investment to open a pioneering production hub in Riyadh in the first quarter of 2025, featuring a large warehouse, a fulfillment center, and a state-of-the-art lens manufacturing unit.

![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/2024/11/INFOGRAPHIC_Startup-Funding-in-Africa-and-the-Middle-East---Week-48_2024.png)