Wahed Invest, Plus VC, Atyab Al Marshoud, Wahed Invest, and other angel investors, along with pre-existing Joa Capital and Emkan Capital, led a seven-figure Seed round for Kuwait-based social commerce Mojo. Abdulaziz Al-Bahar and Nadia Al-Hamad founded Mojo in 2022. Users can explore a variety of beauty, skincare, and wellness goods, collect rewards, and share their opinions and suggestions on the platform. Mojo intends to increase its technological stack by twofold, recruit fresh personnel, and broaden its reach into Saudi Arabia and other regions.
The oversubscribed seven-figure Seed Round of Mojo, the top social commerce startup in the area for beauty, skincare, and wellness, has closed successfully. Leading investors led the round, which is a major turning point in Mojo’s quest to reinvent social commerce in the wellness and beauty industry.
Leading regional investors including Plus VC, Atyab Al Marshoud, Wahed Invest, and numerous strategic angel investors who have invested in successful firms are among the new participants in the round, joining established pre-seed investors Joa Capital and Emkan Capital.
Established in 2022 by co-founder and chief brand officer (CBO) Nadia Al-Hamad and founder and CEO Abdulaziz Al-Bahar, Mojo aims to enable beauty enthusiasts to easily find, share, and buy premium skincare, beauty, and wellness products via its cutting-edge social commerce platform.
After several months of exponential development, Mojo has already brought over 100 top beauty and wellness businesses onto its platform. This investment follows.
Abdulaziz Al-Bahar, Founder and CEO of Mojo, expressed his excitement about the oversubscribed seed round, stating, “We are thrilled to have received the support of prominent investors as we proceed into the next phase of growth and continue to revolutionize the beauty and wellness industry. Their backing offers great validation for our steady execution thus far and underscores our confidence in Mojo’s vision and potential to be a true game changer for the industry.”
Our approach at Mojo is to provide beauty fans access to the power of social media in addition to internet purchasing. We are pleased to present to our consumers a carefully chosen range of items and a genuine platform where content creators can exhibit and monetise their work while interacting with new audiences, making us the first of its type in the MENA region. The results of this unusual and creative strategy are remarkable; monthly revenue increased by 22 times the previous year.
The company intends to use the money raised from the successful conclusion of its seed round to enhance its industry-leading technological stack, hire additional personnel, and fortify its position through regional expansion, particularly in Saudi Arabia.
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