Direct-to-consumer (D2C) sustainable footwear model CHUPPS has raised $1.5 million in Pre-Series A spherical from Green Frontier Capital. The spherical additionally noticed participation from different lead traders comparable to Gunavanth Vaid from 4G Capital, Kaushal Vora from Genesis Packaging, Swanand Kelkar from Breakout Capital Advisors and Gaurav Mathrawala from Mathsons Re-insurance Brokers. Furthermore, the corporate has appointed Soumitra Dutta as an advisor by itself board.
“CHUPPS is building a made-in-India brand with a global potential which its consumers will not only feel good about using today – because of their styling, comfort or performance – but one which even future generations would relate to and appreciate,” Sandiip Bhammer, managing companion, Green Frontier Capital, mentioned.
Soumitra Dutta is presently the dean-elect of Said Business School at Oxford University, UK and former founding dean of the SC Johnson College of Business at Cornell University, Ithaca, New York. Additionally, he serves on the boards of listed international firms, has based a number of profitable start-ups, co-chaired the World Economic Forum’s Global Future Council on Innovation Ecosystems and created main international expertise and innovation insurance policies.
For Yashesh Mukhi, co-founder, CHUPPS, Dutta’s in depth expertise and understanding of world companies will present invaluable insights and learnings to the corporate. “A large portion of the funds will be used to increase penetration, expand into new markets, and develop high-quality, fashionable, and sustainable products,” he acknowledged.
CHUPPS is launching a sustainable sneaker in September this 12 months. CHUPPS has claimed to developed a singular expertise of mixing in pure tree fibers, together with recycled supplies, to create an upcycled sneaker, which is light-weight, tremendous snug in addition to fashionable. Additionally, CHUPPS can be launching out of doors put on for each men and women with merchandise produced from distinctive sustainable supplies whereas nonetheless providing excessive consolation and trend.
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Source: www.financialexpress.com”