Customer direct line casual sneaker brand (D2C) Flat heads announced that it had raised US $ 1 million (approximately 7.3 crore) in a funding round led by start-up investment platform We Founder Circle and Dexter Angels.
The pre-series A round also saw the participation of other investors, including Gaurav Kapur (TV presenter and founder, Oaktree Sports), Sahil Barua (co-founder, Delhivery) and Radhika Ghai (co-founder, ShopClues), Flatheads said. in a published press release.
After this round, the total funding raised by Flatheads since its inception is $ 1.5 million.
“The pandemic has accelerated the adoption of D2C brands online, and we are seeing supercharged growth with a focus on everyday comfort.” With current fundraising, we aim to establish Flatheads as a style brand. of life made in India for the world – building the brand identity, expanding our international presence and investing in product differentiation, ”said Utkarsh Biradar, co-founder and CEO of Flatheads.
The brand plans to use the funds in international expansion and product differentiation in the market.
Flatheads was launched by Utkarsh Biradar and Ganesh Balakrishnan in 2018 as an online brand offering only men’s shoes. The brand had 25 SKUs in the early years, launched 13 SKUs in November 2019 and two more in December 2019 and the price range for Flatheads shoes is between Rs 2,500 and Rs 3,500.