Footwear brand Yoho raises Rs 20 crore in series A funding round

By

Maverick Martins

Published
Oct 12, 2022

Innovative Lifestyle Technology Pvt Ltd, which operates footwear direct-to-consumer (D2C) brand Yoho has raised Rs 20 crore ($2.5 million) in a series A round of funding led by existing investors Softbank Vision Fund’s chief executive Rajeev Mishra, Rukam Capital, and Paytm’s Vijay Shekhar Sharma.

Other undisclosed investors also participated in the round. The company will utilise the funds for diversification of its product portfolio and sustainable manufacturing standards.

Commenting on the funding, Ahmad Hushsham, founder of Yoho in a statement said, “Ever since the inception of Yoho, our vision has been to create a versatile brand that believes in offering comfortable and stylish footwear that cost less than half of the ones offered by popular global giants. The funding has come at a crucial time and will help us to invest in new technology to build new product propositions and build scale.”

Rajeev Misra, CEO of Softbank Vision Fund added, “I believe Yoho will fill a huge void in the Indian footwear market by building scientifically designed footwear at affordable prices for discerning Indian consumers.With strong in-house R&D, the 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."

Founded in 2021 by Ahmad Hushsham and Prateek Singhal, Yoho sells footwear for both men and women across e-commerce platforms.