D2C footwear startup Yoho has raised Rs 20 crore in a Series A funding round, the company said in a press release. The investment was led by Rajeev Mishra, CEO of Softbank Vision Fund, Rukam Capital, and Paytm founder Vijay Shekhar Sharma, along with participation from other investors.
“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,” commented Rajeev Misra, CEO of Softbank Vision Fund on the investment.
The company plans to use the funds to build the capacity for new product developments and sustainable manufacturing standards.
“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 Ahmad Hushsham, Founder of Yoho.
Founded in 2021 by Hushsham and Prateek Singhal, Yoho manufactures affordable orthopaedic lightweight footwear. The company raised seed funding in 2021 from a group of investors, including Kunal Shah, founder, Cred, Gaurav Agarwal, co-founder, Tata 1mg, Ashneer Grover, founder, Bharat Pe, Tanmay Saksena, COO, Tata 1mg and Abhinav Sinha, COO OYO.