Powder Beauty, a UAE-based platform specializing in beauty products, has announced the closing of its pre-Series A funding round. The round was led by Sophia Collective and NKHEL, with participation from several prominent angel investors in the region.
“With this funding round, we’re driven to build on our leading position in this largely untapped but fast-growing market,” said Ayat Toufeeq, co-founder and CEO of Powder Beauty. “We’re delighted to have received this support from investors like the Sophia Collective, a platform whose vision aligns strongly with ours.”
Sophia Collective is a community-based platform dedicated to supporting, empowering, and addressing the investment gap faced by female-founded companies.
These funds will help expand Powder Beauty’s operations in Saudi Arabia, where demand for beauty products is on the rise in a market currently valued at $8.7 billion, with projections to reach $39 billion by 2033, according to a recent report.
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