Yoho, a fast-growing Direct-to-Consumer (D2C) footwear brand in India, has raised Rs 27 crore in a Pre-Series B funding round. This funding was led by Gulf Islamic Investments (GII), a global investment company managing over $4.5 billion in assets. The new capital will help Yoho expand both domestically and internationally.
In addition to GII, several prominent investors participated in the funding round, including Rajeev Misra (CEO, SoftBank Investment Advisers), Vijay Shekhar Sharma (CEO, Paytm), Rukam Capital, and Pankaj Chaddah (Founder, Shyft). Yoho will use the funds to enhance its research and development efforts and expand its innovative product line. One of its key innovations is Blinc, India’s first hands-free sneaker.
Yoho has outlined plans to strengthen its presence in India by partnering with 2,000 Multi-Brand Outlets (MBOs) across Tier 1 and Tier 2 cities. The brand also plans to launch Exclusive Brand Outlets (EBOs), using AI to address common fitting issues and reduce product returns. By 2025, Yoho aims to increase its product range from 100 to 300 styles.
International Expansion
Yoho’s growth strategy extends beyond India, with plans to enter international markets like the Middle East, Africa, and the United States. The brand will leverage both online and offline channels to replicate its domestic success globally.
Co-founders Ahmad Hushsam and Prateek Singhal expressed excitement about the funding, saying it would help them grow and reach more consumers. Their goal is to provide high-quality and comfortable footwear at affordable prices to a larger audience.
GII co-founders Mohammed Al-Hassan and Pankaj Gupta praised Yoho’s rapid growth, highlighting its product-market fit and innovative approach. Rajeev Misra of SoftBank also emphasized the gap in the market for scientifically designed, affordable footwear, which Yoho aims to fill.
With strong backing from investors and a clear expansion strategy, Yoho is well-positioned to make a significant impact in both the Indian and global footwear markets. The company’s commitment to innovation and affordable pricing has set it apart, creating opportunities for growth and disruption in the industry.
