Yoho, a D2C footwear brand, has raised INR 20 Cr ($2.43 Mn) in a Pre-Series A funding round that was led by prominent names like Rajeev Mishra, CEO of SoftBank Investment Advisers, Rukam Capital, and Vijay Shekhar Sharma of Paytm, among others.
In order to expand up capacities for new product offerings, the D2C brand intends to utilise the funding. The business also intends to use the funds to strengthen research and development (R&D) and to make hiring decisions in the fields of product design, marketing, and R&D, as per reported by Inc42.
Ahmad Hushsham and Prateek Singhal established Yoho in 2021, a company that produces inexpensive, lightweight orthopaedic footwear.
Read also – [Funding alert] EV startup Vecmocon raises $5.2 mn funding from Tiger Global, others
“We are extremely delighted that some of the country’s top investors and business leaders have shown faith in us… This funding has come at a crucial time and will help us to invest in new technology to build new product propositions and build scale,” said Hushsham.
The one-year-old firm uses cutting-edge equipment and AI-driven solutions to create lightweight orthopaedic footwear.
Read also – Bira 91 acquires retail pub chain The Beer Cafe
“We are building footwear for India, for Indian climate profile and Indian feet. We work with orthopaedic physicians and polymer scientists to solve for material and ergonomics of footwear, without compromising on good looks”, Yoho’s founder Singhal said to Inc42.
SoftBank’s Rajeev Misra said, “India’s potential in the consumer segment is still relatively untapped, especially in fast moving product categories. With strong in-house R&D, right price point and a compelling product offering, I can see Yoho becoming a preferred comfortable footwear brand not just in India but eventually in global markets as well.”
Read also – [Funding alert] Wright Research Raises $1 mn Seed Fund From Orios Venture
About Yoho
Yoho is a conscientious footwear company that creates items that provide extraordinary comfort and promote a joyful living. Everything has been developed with you in mind, from the ergonomic shape that prevents pain to the snug-fitting contours, all-day adaptability, and light weight.
