HomeStartupsAretto Secures $550k in Seed Funding from Cricketer Hardik Pandya and Angel...

Aretto Secures $550k in Seed Funding from Cricketer Hardik Pandya and Angel Investors

In a significant development, children’s footwear startup Aretto has successfully raised $550k in a recent seed funding round. Aretto’s distinctive edge lies in crafting footwear that seamlessly adapts to the evolving shape and size of growing children’s feet. This innovative approach not only ensures an optimum fit but also addresses the practical challenges parents often face when selecting shoes for their kids.

Prominent Angel Investors

Notable investors include renowned cricketer Hardik Pandya, along with a roster of prominent angel investors. Among them are Abhineet Singh, Co-founder of VegNonVeg, a well-established multi-brand sneaker company; Shyam Raichura, Managing Director of Aan Group; Raunak Munot, former Chief Marketing Officer of Bombay Shaving Company; investment banking firm Vermont Advisors; Vinayak Shrivastav, co-founder of Videoverse; and Kunal Sumaya, Managing Director of Julius Bear.

Carving a Larger Niche

The infusion of funds will be strategically utilized by Aretto to bolster its market presence, augment its talented workforce, and propel its research and development endeavors aimed at introducing novel product offerings. With this injection of capital, Aretto is poised to carve a more expansive niche within the children’s footwear market, promising enhanced comfort and functionality for young wearers.

“Each investor serves as both mentor and advocate for the brand, sharing our overarching vision and belief in the team’s relentless determination,” affirmed Satyajit Mittal, CEO of Aretto. Mittal’s statement underscores the profound value of the recent seed funding, not just as an endorsement of their innovative children’s technology but as a testament to their commitment to reshaping the industry.

Discovering a company with a genuinely groundbreaking product, poised to redefine a global category within a substantial market, is a rarity. Aretto’s remarkable innovation lies in its patented technology, as recognized by the Indian Patent Office, enabling its shoes to dynamically adjust, expanding up to three sizes in sync with a child’s foot growth. Satyajit Mittal, Co-founder & CEO, highlighted this achievement, positioning Aretto as an early pioneer in this domain, a feat that sets it apart in India’s $13.49 billion footwear market landscape as of 2021.

According to a recent study by IMARC Group, the Indian kids’ fashion industry surged to $2.1 billion in 2022 and is poised to scale remarkable heights, projected to reach $24.5 billion by 2028. This upward trajectory reflects a steady CAGR of 2.6% from 2023 to 2028.

In a direct rivalry within the sector, Aretto squares off against fellow kids’ fashion startup, Hopscotch. In a noteworthy move, Hopscotch secured $20 million in funding led by Amazon, underlining their ambitions to broaden their product portfolio and capture an expanded customer base with the latest trends in kids’ fashion. Adding to the industry’s dynamics, the footwear segment recently witnessed the acquisition of Flatheads by Styched, signifying further evolution in this vibrant marketplace.

Read more: A Deep Dive into Recent Challenges At Byju’s

Snigdha Basu
Snigdha Basu
A multifaceted writer, Snigdha Basu is a freelancer and a columnist at Entrepreneurs Today. She also spearheads Chic Life Edition - her own Digital Magazine with sustainable fashion, beauty, and culture at its core. Reach out to Snigdha at [email protected] for inquiries.
- Advertisment -

Most Popular