Asia Pacific’s leading eyewear retailer GlassesGroupGlobal announced that it had raised a $3 million Series A funding from the private equity and venture capital fund Caixa Capital, Asia-focused venture capital firm Nova Founders Capital and a group of angel investors such as Skype’s co-founder Toivo Annus, Bridgepoint Germany’s chairman Uwe Kolb and Drueker & Co’s founder Siegfried Drueker.
The company offers a wide range of branded sunglasses, prescription glasses and contact lenses. The funds raised in this round will help bolster its position as a leader in the global $100 billion eyewear market.
Covering over half a billion people, it currently operates under the brand names: GlassesOnline, GetGlasses, Glasses and Glasses&Co in 14 countries, including Malaysia, Singapore, Hong Kong, Philippines, Taiwan, Thailand, Australia and New Zealand.
The company plans to exploit the growing eyewear market in Asia Pacific and has recently launched operations in Europe, with a second base in Berlin.
“The investment is a tremendous support and signal of confidence in our mission to innovate the traditional eyewear space and provide consumers better access to affordable quality eyewear,” founder and CEO Christopher Strauch said in the statement.
Meanwhile, Caixa Capital’s executive director Stephan Morais stated: “GlassesGroupGlobal is addressing a large global market and is seeing accelerated adoption. The company has a bright future and we are excited to be part of it.”
GlassesGroupGlobal helps eyewear brands connect with consumers through the growing online channel. So far, it works with over 150 brands including Ray‐Ban, Oakley, Gucci, Prada, Italia Independent and many others.