Private Equity VC Fund Investments
D2C footwear brand Solethreads raises Rs.58-Cr in Series A round led by Fireside Ventures
Gurugram-based direct-to-consumer (D2C) footwear startup Solethreads has closed a INR 58 crore Series A round led by Fireside Ventures with participation from existing investors DSG Consumer Partners and Saama Capital.
Founded in 2020, Solethreads currently sells flip-flops, slides and sneakers for both men and women via both online and offline channels. The company plans to use the new funds for research and development and to grow its product portfolio, which currently has 1,200 stock keeping units (SKUs). It has one store in Mumbai, and plans to have 10 across the country by March 24.
Company website ↗ (opens in a new tab)
From the Venture Intelligence PE-VC Deal Database: In Apri 21, Solethreads had raised over USD 1.7 M in a seed round from DSG Consumer Partners and Saama Capital. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)