Yoho is a direct-to-consumer (D2C) footwear brand. Gulf Islamic Investments (GII) led a pre-Series B round that raised Rs 27 crore, or roughly $3.2 million. Participating parties include Rukam Capital, Pankaj Chaddah (Founder, Shyft), Vijay Shekhar Sharma (CEO, Paytm), and Rajeev Misra (CEO, SoftBank Investment Advisers).
The Delhi-based startup has raised more than Rs 47 crore (roughly $5.6 million) in funding so far, including the current round. In 2022, the brand had previously raised Rs 20 crore in a Pre-Series A round headed by Vijay Shekhar Sharma, Rukam Capital, and Rajeev Misra.
The money raised will be invested in R&D as well as other initiatives to promote the company’s innovation and expansion.
Yoho claims to have sold more than a million pairs of shoes since its debut. The business sells its goods both online and through e-commerce sites like Amazon, Flipkart, Myntra, and Tata 1mg.
Its primary goal is to increase its offline presence in India by partnering with 2,000 Multi-Brand Outlets (MBOs) located in Tier I and Tier II cities. The introduction of exclusive brand outlets (EBOs) will provide a better shopping experience by utilizing cutting-edge technology, such as artificial intelligence (AI), to solve common fitting problems, lower return rates, and improve inventory control.
By 2025, it also intends to expand its product catalogue from 100 to 300 styles and increase brand awareness through marketing campaigns and community-building projects.
