- Bengaluru-based children footwear brand Plaeto raised $5 Mn in a Series A round.
- The startup states to have an eco-friendly approach to making its shoes.
- D2C has emerged as one of eCommerce’s fastest-growing segments, fueled by companies like Mamaearth, boAt, Lenskart, and WOW Skin Science.
Bengaluru-based children footwear brand Plaeto raised $5 Mn in a Series A round of funding led by Florintree Advisors, and the participation of other investors.
The D2C footwear brand plans to use these funds to expand to new markets and bring new products to its catalogue.
The startup was founded in 2020 by Ravi Kallayil, Sara Kilgore and Pavan Kareti, Plaeto designs. Plaeto uses an omnichannel approach and sells on major eCommerce platforms along with its website. The startup even has a B2B and B2C front which it uses to collaborate with schools and educational institutes for uniform shoes.
The startup states to have an eco-friendly approach to making its shoes; According to Plaeto’s website, its shoes have a 50% lesser environmental impact than an average athletic shoe at 6.5 kilos of CO2 per pair. Additionally, the startup has a number of proprietary elements designed specifically for children’s feet.
First, the FitSystem contains a proprietary fit liner that allows the user to get a size more from the same product. Second, Plaeto365 is another proprietary part of the shoe, being a midsole. Lastly, the D2C brand has Plaeto FitWiz, which is a recommendation engine and recommends shoe sizes based on a child’s measurements.
In an interview with a news media, Ravi Kallayil, the cofounder and CEO of Plaeto said, “In our journey to becoming a technology-driven D2C footwear brand, we have always emphasized science-based shoes and innovation that meet the needs of Indian consumers. The footwear industry has innovated across the board, including children’s footwear, but hasn’t incorporated consumer-focused design or performance into this category.”
According to a report, India’s total eCommerce market opportunity is expected to reach $400 Mn by 2030. There have been 23 unicorns minted from India’s eCommerce startup ecosystem, which includes Flipkart and Nykaa, since 2014, raising $29 Billion in funding.
D2C has emerged as one of eCommerce’s fastest-growing segments, fueled by companies like Mamaearth, boAt, Lenskart, and WOW Skin Science. A total of $3.6 billion has been raised in funding for the subsector since 2014.
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