Yoho aims to deploy the additional funds to drive its growth and innovation, including investment in research and development
New Delhi: D2C footwear brand Yoho has raised Rs 27 cr in a pre-series B funding round led by Gulf Islamic Investments (GII), a release by the company said on Tuesday.
Gulf Islamic Investments is a leading Shariah-compliant global alternative investment company, with over $4.5 billion of assets under management. Notable additional investors supporting the Yoho round included Rajeev Misra (CEO, SoftBank Investment Advisers), Vijay Shekhar Sharma (CEO, Paytm), Rukam Capital, and Pankaj Chaddah (Founder, Shyft).
“We are thrilled to have the support of our investors, and we’re excited to leverage these partnerships to drive our next phase of growth. With this capital infusion, we are well-positioned to accelerate our product development, expand our market reach, and create an even more significant impact in the lives of consumers,” said Ahmad Hushsam and Prateek Singhal, co-founders of Yoho.
Yoho aims to deploy the additional funds to drive its growth and innovation, including investment in research and development to bring more groundbreaking products to market, the release added.
It seeks to boost its offline presence across India, targeting partnerships with 2,000 Multi-Brand Outlets (MBOs) in Tier 1 and Tier 2 cities. The launch of Exclusive Brand Outlets (EBOs) will offer an enhanced customer experience through the innovative use of technology, including using AI to address common fitting issues, reducing returns and optimising inventory management. It also plans to create stronger brand awareness through marketing initiatives and community-building efforts and increase its product catalogue from 100 to 300 styles by 2025.
Founded in 2021, Yoho is a D2C footwear brand committed to delivering innovative, comfortable, and stylish footwear to consumers across India and beyond. With a focus on technology-driven solutions and customer satisfaction, Yoho is rapidly emerging as a leader in the Indian footwear market, offering a diverse range of products from casual wear to formal shoes for both men and women.
