Plaeto, a D2C footwear brand for children, has raised Rs 40 crore or $5 million in a series A funding round led by Florintree Advisor along with participation from other investors.
The fresh funds will be utilised to accelerate the company’s strategic expansion to newer markets and product innovation, Plaeto said in a press release.
Bengaluru-based Plaeto has designed scores of proprietary elements for children’s growing feet. These include FitSystem, which contains a proprietary Fitliner that yields an additional size from the same product and Plaeto365, which is a midsole that is responsive, supportive, and comfortable even after a year of usage.
FitWiz, Plaeto’s third product, leverages technologies such as artificial intelligence(AI) and machine learning(ML) to recommend the best fit for children.
Founded by Ravi Kallayil, Sara Kilgore, and Pavan Kareti in March 2020, Plaeto ties with some leading schools and educational institutes through its B2B2C channel and online marketplaces such as Amazon, Myntra and Flipkart.