Nova, Caixa lead $3m Series A in Malaysia eyewear GlassesGroupGlobal

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.

As former managing director of Zalora and ex-CEO of Rocket Internet UK, Strauch has formed a multinational team, consisting 75 online experts.

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.

Also read:

Financial aggregator CompareAsiaGroup raises $40m Series A from Goldman Sachs & other investors

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.