Cairo-based direct-to-consumer beauty and wellness start-up Mira Cosmetics raised $200,000 from Wingoo Investment and Technology.
WHO: Egyptian beauty brand Mira Cosmetics, founded by Amira Dawood, offers a wide range of locally produced cosmetic and skincare products that are high quality and affordably priced. The inspiration for the brand stemmed from the demand among girls for imported beauty products at high prices due to foreign currency exchange rates.
WHY: The company will use the funds to grow its customer base to 100,000 clients by the end of 2024 and enter the UAE and Saudi markets.
IN THEIR OWN WORDS: Ahmed Al-Shehabi, CEO of Wingoo for Investments and Technology, expressed confidence in the potential of Egyptian products to compete globally. This confidence prompted the investment in Mira Cosmetics and Skincare. Al-Shehabi highlighted Mira’s strategic plans for expansion and growth, envisioning the company’s presence beyond Egypt, targeting the UAE and Saudi Arabia in the next three years.
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