Gurugram based open footwear startup Solethreads has raised Rs 13 crore in series A round of funding from DSG Consumer Partners and Saama Capital. The firm intends to utilize the capital towards creating a better customer experience and strengthening its digital capabilities.

Founded in 2018, Solethreads is a 'Made in India' innovative footwear brand known for its stylish flip-flops and sandals. The firm’s products are available on all major e-commerce platforms such as Amazon, Myntra, and Flipkart, in addition to its own website.

The open footwear category is over USD 1.5 billion markets, growing annually at 15 percent and it is ripe for disruption, said Ash Lilani, Managing Partner, Saama Capital.

"With the good product positioning, the brand is well-positioned to be the insurgent brand within the category that has the potential of changing the footwear landscape," said, Hariharan Premkumar, Executive Director, DSG Consumer Partners.

Solethreads reached a GMV of Rs 50 lakh on Amazon within four months after the launch and was recognised as an emerging brand by the e-commerce website.
The founders are also working to expand their offline presence, and have recently collaborated with Metro Shoes, a high-end footwear retailer.

DSG Consumer Partners is a consumer-focused early-stage venture capital firm that has invested over $ 200 million in companies such as Oyo (which was sold to SoftBank), Redmart, Zipdial, and Yogurt.

Saama Capital is an early-stage venture capital company that has been investing since 2006. Paytm, Snapdeal, Sula Wines, Veeba Foods, Lendingkart, Chai point, Raw Pressery, and Fisdom were among the early investors.