Ananya Goenka, Tanglin Venture Partners, India Quotient, and SIG Venture Capital, the Asian venture capital arm of the Susquehanna International Group of Companies (“SIG”), led the $4.5 million Series A funding round for RapidBox, a rapidly, early-age, direct-to-consumer business that operates in the footwear, sports, and casual fashion categories.
The money raised will be put to use for brand development, product line expansion, and improved customer service, as per reported by Entrepreneur.com.
“As a young brand, we see a lot of room for growth as we cater to growing footwear and fashion needs of consumers who are aspirational and early achievers. RapidBox was launched to close the market gap in the footwear industry with a focus on uplifting product quality and consumer experience. With the continued support of our investors and consumers, we are looking forward to excelling with product and price innovation,” said Arun Paliwal, co-founder, RapidBox.
Arun Paliwal and Manoj Baranwal founded RapidBox in 2019, and it is a new, direct-to-consumer business that specialises on the casual, sports, and footwear markets. One of the best online shopping apps is RapidBox, which offers amazing quality fashion items for Factory Prices.
“With the advent of social media, consumers of all segments are exposed to the latest footwear trends and have the same aspiration for these products. RapidBox fulfills these aspirations through rapid innovation to deliver beautiful shoes at price points that work for the economy segment” said Bhavani Rana, investment adviser to SIG.
At RapidBox, they firmly believe that high quality fashion should not necessarily be high priced. Brands, offline stores and online platforms provide low quality at affordable prices.