Plaeto, a D2C footwear brand, raised Rs 40 Cr in the Series A round.
Plaeto, a D2C footwear brand for children, has raised Rs 40 crore or $5 million in a series A funding round led by Florintree Advisor along with participation from other investors.
According to a press release from Plaeto, the additional cash will be used to speed up the company’s strategic growth into newer markets and product innovation.
Bengaluru-based Numerous proprietary elements have been created by Plaeto for developing children’s feet. These include Plaeto365, a midsole that is responsive, supportive, and comfortable even after a year of use, and FitSystem, which has a unique Fitliner that produces an additional size from the same product.
The third product from Plaeto, FitWiz, recommends the right fit for kids using machine learning and artificial intelligence (AI) technology.
In March 2020, Ravi Kallayil, Sara Kilgore, and Pavan Kareti founded Plaeto. Through its B2B2C channel and online marketplaces like Amazon, Myntra, and Flipkart, Plaeto has relationships with some top schools and educational institutions.
About Plaeto: Plaeto is a footwear startup that for the first time ever has designed and is offering unique, accessible, multi-purpose world class footwear for the Indian child to enable ‘Play’, while aiding/caring for growing feet.
Plaeto seems to be a fascinating startup with a motivating turn of events on retail apparel and fashion platform. I’m sure this startup would continue to prosper in its journey ahead. My best wishes to the entire team of Plaeto. This will give them a huge accomplishment in the future.Shishir Gupta, Founder and CEO, StartupLanes
Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
You can subscribe to our news posts by entering your email in the box on the right side of this page.
Check out our YouTube channel for insightful content from the Indian startup ecosystem.
The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.
Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.