SUMMARY
- Yoho raised ₹27 Cr in Pre-Series B to expand domestically, internationally, and enhance product development.
- Key investors include GII, Rukam Capital, Paytm’s Vijay Shekhar Sharma, and SoftBank’s Rajeev Misra.
- The firm aims to launch exclusive outlets, expand its offline presence, and explore global markets by 2025.
Delhi-based direct-to-consumer (D2C) footwear brand Yoho has secured ₹27 crore (around $3.21 million) in a Pre-Series B funding round, with Gulf Islamic Investments (GII) leading the investment. The new funding will be used by the business to expand domestically and internationally, increase R&D spending, and expand its line of products.
Rukam Capital, Pankaj Chaddah of Shyft, Paytm’s Vijay Shekhar Sharma, and Rajeev Misra, CEO of SoftBank Investment Advisers, were the prominent investors who participated in the round.
“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”, stated the co-founders of Yoho in a joint statement.
Mohammed Al-Hassan, co-founder and co-CEO of Gulf Islamic Investments (GII) 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.”
Founded in 2020 by Prateek Singhal and Ahmad Hushsham, Yoho is a footwear brand that uses artificial intelligence (AI) to produce affordable, lightweight orthopedic shoes. Since its launch, the company claims to have sold over 1 lakh pairs, with products available on platforms like Amazon, Flipkart, Myntra, Tata 1mg, and its website.
The business intends to establish exclusive brand outlets (EBOs), expand its offline presence, and collaborate with 2,000 multi-brand outlets (MBOs) in Tier-I and Tier-II cities in the future. By 2025, it hopes to expand its product line from 100 to 300 styles and step up its marketing campaigns. Additionally, it plans to explore worldwide markets, including those in the US, Africa, and the Middle East.
Yoho has raised around ₹47 crore in finance thus far with this. In 2022, the startup successfully raised ₹20 crore during a Pre-Series A investment headed by Vijay Shekhar Sharma, Rajeev Misra, and Rukam Capital.
