08 December 2021, Mumbai:
Solethreads has raised Rs 2.5 crore in venture debt funding from Alteria Capital. The Indian footwear brand 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 crores in Series-A round funding from DSG Consumer Partners and Saama Capital. 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.
With over 30 patents and counting, Solethreads leads innovation in the open footwear segment and takes active steps in ensuring that all its products are either recycled, reclaimed, or vegan so that it can reduce its carbon footprint and work towards a sustainable tomorrow.
As part of this program, the brand will 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. Solethreads was founded in 2019 with the aim of disrupting the open footwear category with an emphasis on comfort, innovation, and superior designs.
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