Nova, Caixa lead $3m Series A for Malaysia eyewear retailer

Several angel investors also participated in the round, which brings the total amount raised by GlassesGroupGlobal since its 2012 founding to $4.5 million. The company will use the money to expand its platform to Europe through the opening of a subsidiary in Portugal, according to a release.

GlassesGroupGlobal was founded by former Rocket Internet UK CEO Christopher Strauch to take advantage of a lack of variety of glasses offered in Southeast Asia. Its first funding round came in 2014, when Nova committed $1.5 million in early stage funds.

The company manages online shops in 14 markets in the Asia-Pacific region and recently opened an office in Berlin as well. Its competitors include Hong Kong's Motion Global and Indonesia's Lensza.

Nova, based in Hong Kong, provides early stage and growth capital investment to companies in Southeast Asia, with a focus on IT and computer related opportunities. Its most recent investment fund closed at $50 million last year. Earlier this year the firm participated in a $40 million round for financial comparison site CompareAsiaGroup, led by Goldman Sachs.

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• Topics
• Southeast Asia
• Consumer
• Technology
• Early-stage
• Expansion
• Venture
• Malaysia
• Nova Founders Capital
• Consumer
• e-commerce
• Technology
• TMT
• Growth capital
• Venture