Paytm’s Vijay Shekhar Sharma, SoftBank exec Rajeev Misra fund D2C footwear brand Yoho

Homegrown D2C footwear brand Yoho has raised Rs 20 crore in a pre-Series A round led by Paytm CEO Vijay Shekhar Sharma, SoftBank Vision Fund CEO Rajeev Misra, and existing investor Rukam Capital, among others. Yoho plans to use the fresh funds to step up its new product lines, and invest further in its sustainable manufacturing technology. 

Prior to this, in 2021, Yoho had raised seed funding from Sequoia Sprouts (Sequoia Capital India’s seed fund), Kunal Shah (Founder Cred), Pankaj Chaddah (Co-founder Zomato), Gaurav Agarwal (Co-founder, Tata 1mg), Taru Kapoor (GM India SEA, Tinder), Ashneer Grover (Founder, Bharat Pe), Abhinav Sinha (COO of OYO), and a host of the other influential angel investors.

Rajeev Misra, CEO, Softbank Vision Fund, said in a statement, “India’s potential in the consumer segment is still relatively untapped, especially in fast-moving product categories. 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.”

Founded by Ahmad Hushsham and Prateek Singhal in 2021, Yoho has patented its trademark ‘Footpharma’ technology and designs. It manufactures affordable orthopaedic lightweight footwear, and claims to have sold over 100,000 pairs after coming out of stealth mode four months ago. Prior to launching the models on its own website as well as third-party ecommerce marketplaces, the Delhi-based startup had tested almost 700 prototypes. 

Ahmad Hushsham, Founder, Yoho, said, “We are extremely delighted that some of the country’s top investors and business leaders have shown faith in us. 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.”

India’s footwear market is estimated to be worth $13.49 billion, and is growing at a rate of 12.83 per cent, according to a report by Maximise Market Research. Yoho wants to tap into new-age, scientific, and high-performance footwear targeted at millennial and Gen-Z customers. 

Archana Jahagirdar, Managing Partner, Rukam Capital (early-stage consumer-focused fund), said, “Yoho's focus in bringing affordability to high-quality footwear can transform the way consumers perceive the impact of the right type of footwear on feet health. We are confident in their product proposition and the strides they have made in such a short span of time. The team's passion and knowledge of the product category can truly be a gamechanger for the footwear industry in India.”

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