Street culture brand SoleSearch has raised Rs 6 crore in its first funding round from Venture Catalyst, Anthill Ventures, Cornerstone Sport LLP and other marquee individuals.
SoleSearch will use the funds to scale its online and offline in the next quarter, the company said in a press release. Along with this expansion, the company intends to increase its workforce and build a larger team.
SoleSearch is a street culture brand and marketplace that offers an e-commerce platform for limited edition sneakers, streetwear, accessories, and collectibles. Launched in 2021, SoleSearch aims to streamline the unorganized street and youth culture industry in India with an omni-channel approach for the current & next gen of Indian shoppers. The company began as a community platform for trading sneakers and evolved into a ecosystem for sneaker and street-culture enthusiasts.
SoleSearch’s co-founder and CEO Param Minhas said that the startup has also built a robust network of resellers who are experts in understanding this cohorts’ needs/demands.
According to reports, the revenue generated in the streetwear segment in India reached $2.6 billion in 2022, with an anticipated annual growth rate of 11.58%. SoleSearch sees immense market opportunity in the growing streetwear industry.