GlassesGroupGlobal, a company headquartered in Hong Kong focusing on the online retail of eyewear products including prescription glasses, sunglasses and contact lenses, just raised $ 500.000 from Caixa Capital in a $ 3 M Series A round, led by Nova Founders Capital.
Currently active in eight countries in Southeast Asia and Oceania (Malaysia, Singapore, Hong Kong, Australia, New Zealand, the Philippines, Taiwan and Thailand), and considered the largest eyewear online platform in Asia-Pacific, the company decided to expand to Europe through the establishment of a Portuguese subsidiary in Lisbon.
With several million dollars in revenue and considerable growth month-on-month since inception in 2013, the subsidiary in Lisbon will allow the company to establish permanent headquarters in Europe and to start a global tech team to support the growth of the business.
Christopher Strauch, the Founder and CEO of GlassesGroupGlobal, affirmed that “We are delighted that Caixa Capital is on board. This partnership, more than capital, will bring us the local capability to establish a strong presence in Europe”.
Stephan Morais, Executive Director of Caixa Capital, stated that “Following our investment thesis of investing in Portuguese related opportunities, the investment in GlassesGroupGlobal allows us to tap into the team’s expertise in the optical marketplace business and for us to enable the establishment of a global platform from Lisbon to the rest of Europe and eventually the world. We look forward to working daily with the entrepreneurs”.
GlassesGroupGlobal will invest about $ 2 M in the Portuguese subsidiary over the next two years and create dozens of jobs in Lisbon’s up-and-coming tech scene.
Caixa Capital – www.caixacapital.pt
Capital is the Private Equity and Venture Capital fund management company of Portugal´s largest banking group Caixa Geral de Depósitos, present in over 20 countries and with assets above 120 billion Euros. With a total of close to 850 million Euros under management, the largest and most relevant in the country, Caixa Capital invests in growth equity and venture capital opportunities and funds. The Venture Capital team partners with incubators, accelerators and business angels for seed and startup investments and with major international venture funds for opportunities above 1 million Euros. The team aims to support global expansion of Portugal related teams and companies and has dedicated team members to ICT, digital, health tech, engineering and clean tech investments
GlassesGroupGlobal – www.glassesgroupglobal.com
GlassesGroupGlobal is the leading online eyewear platform in Asia-Pacific, offering a comprehensive range of branded prescription glasses, sunglasses and contact lenses. The company partners with leading brands and local opticians to provide an increased value proposition to consumers. Founded in 2013, the group has a presence in Malaysia, Singapore, Hong Kong, Australia, New Zealand, Philippines, Taiwan and Thailand, and most recently launched its first markets in Europe.
Nova Founders Capital – www.novafounders.com
Nova Founders Capital is a global investment company that identifies opportunities to build innovative internet businesses in high-growth markets. The company builds and invests in sustainable, large-scale businesses models. The team behind Nova Founders Capital are some of the most experienced entrepreneurs in the world, and have successfully grown over 30 technology businesses globally.