Indian footwear brand Yoho has raised Rs 23 crore ($2.4 million) in fresh funding as it looks to expand its offline retail presence and strengthen its position in India’s growing performance footwear market. The new funding round included Rs 15 crore in equity and Rs 8 crore in debt, led by Gulf Islamic Investments (GII) and Rajeev Misra, former co-CEO of SoftBank Vision Fund, with participation from existing investors including Paytm founder Vijay Shekhar Sharma. The Delhi-based D2C brand said the funds will be used to expand its offline distribution network, scale its performance running range and grow its exclusive retail outlets.

The brand said it plans to partner with more than 2,500 multi-brand outlets across tier-I and tier-II cities in India. It is also investing in exclusive brand outlets equipped with AI-led systems aimed at improving fit accuracy, reducing returns and optimising inventory management. The startup is increasing its focus on performance footwear following demand for its Catapult with Carbonburst™ running range, designed for marathon runners. India’s sneaker market is projected to reach $6 billion by the financial year 2032, according to market research cited by the startup.

About Yoho

Yoho has been Founded in 2021 by Ahmad Hushsham and Prateek Singhal. Yoho sells casual, formal and performance footwear for men and women. Yoho claims it has sold more than three million pairs of shoes through its website and e-commerce platforms including Amazon, Myntra, Flipkart, Ajio and Nykaa.