Mojo Raises a Seven-Figure Seed Stage Investment Round
The Kuwait-based cosmetics social commerce platform will use the funding to expand in the region, particularly into Saudi Arabia.
Mojo, a Kuwait-based regional cosmetics and hygiene startup, has concluded a seed funding round on March 11, 2024, with investments totaling multimillion dollars. The exact figure was not disclosed by the company. Notable new and returning investors led the round.
Previous round investors Jawa Capital and Emkan Capital and regional investors including One Invest, Plus VC, Atyab Al Marshoud, and Plus VC, in addition to a number of angel investors who have previously invested in successful companies.
Abdulaziz Al-Bahr, the company's founder and CEO, and Nadia Al-Hamad, its co-founder and brand director, established Mojo in 2022. The beauty and cosmetics platform boosts over 100 international brands. The platform also facilitates direct interaction between sellers and buyers.
Following several months of growth, Mojo has been host to more than one hundred industry-leading beauty and wellbeing brands as of the time of this funding.
Following the conclusion of the investment round, the company intends to allocate the acquired funds towards the technological advancement of its platform, hiring new talent, and expanding in the region, with a specific focus on Saudi Arabia.