|Venture Round, 12/2012 |
The Social+Capital Partnership
|Partial Close, 10/2013 ||$2.4M|
Lema21 brings the “cut the middleman” business model to Latin America by offering quality designer eyewear online for approximately $120 USD. They dubbed the concept “smart eyewear”, providing transparency about the traditional supply chain to consumers and offering prescription frames with anti-reflective organic lenses for one standard price (R$ 267).
The two Brazilian entrepreneurs, Jonathan Assayag and Naomi Arruda, started the venture after living in the US for many years. Witnessing the US recession, they returned to Brazil in search of opportunities to apply their skillsets in a growing economy. They combined their Silicon Valley and luxury brands backgrounds to explore this eCommerce vertical and bring innovative value to the booming Brazilian Market. Jonathan and Naomi named the company “Lema21”, which stands for “life motto 21” – a concept relating to the vision of this new generation of people who are positively changing the Brazilian economy and the world around them.