Online Footwear Startup 'Yoho' grabs Rs.27 crore in Pre-Series B
D2C – Direct to consumer footwear brand Yoho has secured Rs.27 crore (nearly $3.2 million) in a Pre-series B funding round directed by GII – Gulf Islamic Investments. Also, the funding round recorded participation from Rajeev Misra (CEO, SoftBank Investment Advisers), Vijay Shekhar Sharma (CEO, Paytm), Rukam Capital & Pankaj Chaddah (Founder, Shyft).
Comprising the current funding round, to date, the Delhi-based Startup has raised more than Rs. 47 crore (nearly $5.6 million) funding. Previously, the footwear brand had raised Rs.20 crore in Pre-series A funding round in the year 2022 directed by Rajeev Misra, Rukam Capital, and Vijay Shekhar Sharma.
The Funding roundfunding raised in the round will be utilized to drive its innovation and development such as investment in research and development. From its launch, the footwear brand Yoho says that it has sold more than 1 lakh pairs of footwear. The startup sells its products on the key e-commerce platforms including its own website, Flipkart, Myntra, Amazon and Tata 1 mg.
Expressing to the company's journey & recent funding, Ahmad Hushsam and Prateek Singhal, Co-Founders of Yoho, says, “We are thrilled to have the support of our investors, and we're excited to leverage these partnerships to drive our next phase of growth. With this capital infusion, we are well-positioned to accelerate our product development, expand our market reach, and create an even more significant impact in the lives of consumers. Our mission has always been to provide high-quality, comfortable footwear at accessible prices, and this investment will enable us to bring this vision to a much wider audience, both in India and globally.”
Speaking on GII’s investment, Mohammed Al-Hassan, GII’s Co-Founder and Co-CEO, states, “GII provides innovative growth funding solutions that address evolving consumer preferences. Yoho's approach of combining biomechanical expertise with affordability targets a critical gap in the market that GII’s investment can address.” Pankaj Gupta, fellow GII co-founder and co-CEO, added, "Yoho's remarkable growth in a short period strongly validates its product-market fit. We take great comfort in the enterprising spirit of the Yoho co-founders Ahmad and Prateek running this business, and look forward to being part of Yoho's journey as it continues to disrupt the industry, creating meaningful impact and enhancing users’ everyday comfort. Our investment in their unique value proposition represents the kind of groundbreaking approach that we believe can reshape traditional markets and benefit consumers on a wider scale.”
Similarly, Rajeev Misra, CEO, SoftBank Investment Advisers notes, “We see a significant void in the consumer market for scientifically designed, affordable footwear that caters to the discerning Indian consumer. Yoho's innovative approach, which combines biomechanical expertise with accessibility, is precisely positioned to fill this gap. This alignment of cutting-edge design and affordability exemplifies the disruptive strategies that can capture substantial market share in India's rapidly evolving economy.”
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Comprising the current funding round, to date, the Delhi-based Startup has raised more than Rs. 47 crore (nearly $5.6 million) funding. Previously, the footwear brand had raised Rs.20 crore in Pre-series A funding round in the year 2022 directed by Rajeev Misra, Rukam Capital, and Vijay Shekhar Sharma.
The Funding roundfunding raised in the round will be utilized to drive its innovation and development such as investment in research and development. From its launch, the footwear brand Yoho says that it has sold more than 1 lakh pairs of footwear. The startup sells its products on the key e-commerce platforms including its own website, Flipkart, Myntra, Amazon and Tata 1 mg.
Expressing to the company's journey & recent funding, Ahmad Hushsam and Prateek Singhal, Co-Founders of Yoho, says, “We are thrilled to have the support of our investors, and we're excited to leverage these partnerships to drive our next phase of growth. With this capital infusion, we are well-positioned to accelerate our product development, expand our market reach, and create an even more significant impact in the lives of consumers. Our mission has always been to provide high-quality, comfortable footwear at accessible prices, and this investment will enable us to bring this vision to a much wider audience, both in India and globally.”
Speaking on GII’s investment, Mohammed Al-Hassan, GII’s Co-Founder and Co-CEO, states, “GII provides innovative growth funding solutions that address evolving consumer preferences. Yoho's approach of combining biomechanical expertise with affordability targets a critical gap in the market that GII’s investment can address.” Pankaj Gupta, fellow GII co-founder and co-CEO, added, "Yoho's remarkable growth in a short period strongly validates its product-market fit. We take great comfort in the enterprising spirit of the Yoho co-founders Ahmad and Prateek running this business, and look forward to being part of Yoho's journey as it continues to disrupt the industry, creating meaningful impact and enhancing users’ everyday comfort. Our investment in their unique value proposition represents the kind of groundbreaking approach that we believe can reshape traditional markets and benefit consumers on a wider scale.”
Similarly, Rajeev Misra, CEO, SoftBank Investment Advisers notes, “We see a significant void in the consumer market for scientifically designed, affordable footwear that caters to the discerning Indian consumer. Yoho's innovative approach, which combines biomechanical expertise with accessibility, is precisely positioned to fill this gap. This alignment of cutting-edge design and affordability exemplifies the disruptive strategies that can capture substantial market share in India's rapidly evolving economy.”
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