New Delhi: Funkfeets, a quirky sneaker startup has secured INR 75 lakh in investor capital through its seed round. The round was attended by venture capital investor Dhianu Das (investor GoMechanic and ClearDekho), thus building up the excitement for this startup in the VC community.
Funkfeets, propelled by venture capital platforms like Agility Venture Partners and Shark ventures, plans to use these funds to upscale revenues and acquire more customers through marketing.
Spilling the beans on their aggressive growth and marketing plans, co-founders Shashank Sahay and Sanat Srivastava announced that the brand aims to diversify into the casual footwear segment. It also plans to collaborate with macro and micro-influencers for viral marketing initiatives. And in the long run, their intention is to reach overseas markets.
On the occasion, Prashant Narang, Co-founder of Agility Venture Partners, said “It is imperative to have growing popularity with a strong product innovation, which we saw it in Funkfeets. We are in full backing for the company’s long-term vision for marketing and diversification of products.”
Established in 2017, Brain Child of Sanat Srivastava, Funkfeets leverages the need to provide asymmetrical designs for sneakers on shoes so that buyers can connect with the elements on the footwear.
“Being expressive is impressive. I believe that we can jazz up all old school, formal or sports shoes by adding prints and eccentric designs that match the wearer’s personality – that’s where we have found our appeal,” said Sahay.
Sahay and Srivastava made a foothold in the shoe business despite their non-apparel origins – Sahay is an MBA in finance and holds CA expertise. Srivastava, the co-founder, is a B.Tech in Information Technology and MBA in International Business. The two had earlier collaborated on an economic trip-based startup for college students.
“I believe a great idea can ease the marketing, and a great product can ease growth. For us, Funkfeets is that great idea,” Srivastava added.
Since its inception, Funkfeets has developed controlled production capabilities and an omnichannel presence. It has also diversified in related segments like flip-flops and premium sneakers.