Yoho, a fast-growing Direct-to-Consumer (D2C) footwear brand, has raised Rs 27 crore (around $3.2 million) in a pre-Series B funding round led by Gulf Islamic Investments (GII). The round also saw participation from prominent investors, including Rajeev Misra (CEO, SoftBank Investment Advisers), Vijay Shekhar Sharma (CEO, Paytm), Rukam Capital, and Pankaj Chaddah (Founder, Shyft). With this latest investment, the Delhi-based startup has secured over Rs 47 crore ($5.6 million) in funding to date.
Funding to Drive Growth, Innovation, and R&D
The newly raised funds will be channeled toward accelerating Yoho’s growth, innovation, and research and development efforts. The company aims to enhance its product line and improve customer experience by investing in cutting-edge technology, such as Artificial Intelligence (AI) to address common fitting issues, reduce product returns, and optimize inventory management.
Expanding Offline Presence Across India
Yoho is set to boost its offline retail footprint across India, targeting partnerships with 2,000 Multi-Brand Outlets (MBOs) in tier I and tier II cities. The brand also plans to launch exclusive brand outlets (EBOs) to offer a superior shopping experience. Through the innovative use of technology in stores, Yoho aims to provide tailored fitting solutions and enhance customer satisfaction.
Aiming for 1 Million Pairs and Beyond
Since its inception, Yoho has sold over 1 million pairs of footwear, leveraging its presence on major e-commerce platforms like Amazon, Flipkart, Myntra, and Tata 1mg, as well as its official website. The startup plans to significantly expand its product catalog from 100 to 300 styles by 2025, catering to diverse customer preferences and needs.
Strengthening Brand Awareness and Community-Building
To bolster its market presence, yoholife.in will invest in strategic marketing initiatives and community-building efforts aimed at creating stronger brand awareness. These efforts will help Yoho engage with its growing customer base and position itself as a leading footwear brand in India’s D2C space.
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