Saudi-based Aya raises $1.6m to expand presence
Saudi Arabia’s modest fashion platform, Aya has secured $1.6 million (6 million Saudi riyals) in seed funding to revolutionize the modest fashion industry.
The latest funding round, led by Khwarizmi Ventures and investor Turki Alrajhi, included contributions from Saudi venture capital firm Raed Ventures, investment firm Joa Capital, and FENA Holdings.
Aya seeks to unify the modest fashion market - particularly the multi-billion dollar Abaya segment - through a single, trend-focused discovery platform. The company plans to empower local manufacturers to create on-demand fashion in response to shifting consumer interests.
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Muhammad Ali Bandial