Dealflow | November 16, 2023

Beyond Capital Ventures backs Lapaire for affordable eye care in Africa

Lucy Ngige
Guest Author

Lucy Ngige

ImpactAlpha, November 16 — Africa faces a shortage of eye-care specialists, making it challenging for tens of millions of Africans with visual impairments to get care.

Lapaire, based in Abidjan, Cote d’Ivoire, has secured an investment from Beyond Capital Ventures to provide free vision tests and low-cost rates for purchasing eyeglasses. The company operates 54 optical shops in Togo, Burkina Faso, Kenya, Mali, Benin, Uganda and Cote d’Ivoire.

Lapaire has served more than 200,000 people, said Beyond Capital’s Eva Yazhari, leading to “improved productivity, increased earning potential, and better outcomes for individuals across the continent.” Lapaire says 70% of its customers have obtained glasses for the first time.

Impact tech

Beyond Capital joined Lapaire’s Series B investment round. The women-led venture fund invests in early-stage companies delivering essential goods and services to consumers in Africa and India.

Beyond Capital’s portfolio includes Rwandan electric motorcycle maker Ampersand; Kigali-based Viebeg Medical, a health tech venture that provides critical medical supplies for underserved healthcare providers; and CarePoint, which runs a chain of hospitals and clinics in Nigeria, Egypt, Kenya and Ghana.

Nairobi-based Beyond Capital’s profit-sharing mechanism earns founders a percentage of the fund’s profit for meeting gender-based targets (See, this month’s Liist).