Published
Dec 7, 2021
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Solethreads raises Rs2.5 crore in funding

Published
Dec 7, 2021

Indian footwear brand Solethreads has raised Rs 2.5 crore ($3,31,876) in venture debt funding from Alteria Capital.
 

Solethreads raises Rs 2.5 crore in funding - Solethreads


The company plans to invest the funds to broaden its research and development, product portfolio, and expand its customer base across India.
 
Solethreads had earlier raised Rs 13 crore in Series-A round funding from DSG Consumer Partners and Saama Capital.

Commenting on the funding, Sumant Kakaria, CEO co-founder of Solethreads, in a statement said: “The partnership with Alteria Capital will support the brand in widening its pipeline of sustainable innovation to reach out to a broader base of customers.”
 
Gaurav Chopra, co-founder at Solethreads added: “With over 30 patents and counting, we lead innovation in the open footwear segment and take active steps in ensuring that all our products are either recycled, reclaimed or vegan, so that we can reduce our carbon footprint and work towards a sustainable tomorrow, today. As part of this programme, we also ensure to donate some items to relevant institutions and foundations, so that they can reuse them.”
 
Solethreads started operations in 2018 and sells flip-flops with a focus on youth. Apart from selling on its website, Solethreads products are available at all leading e-commerce platforms, including Amazon, Myntra, and Flipkart.

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