While, Info Edge India also participated in the round.
Delhi-based platform will use the capital for aggressive growth in the footwear segment.
The startup claims to be growing at a run rate of 25 per cent month-on-month and soon plans to enter into the B2B fashion and lifestyle space.
Siddharth Vij, co-founder & CEO, ShoeKonnect, said, “We believe that the Indian B2B story shall comprise of two segments, one will be FMCG & Fresh and the other will be Fashion & Lifestyle. While we have successfully executed the solution in the footwear category, now endeavoring to be the market leader in the fashion and lifestyle space, an $80 billion Indian market opportunity with 50 lakh registered fashion retailers in India.”
ShoeKonnect, founded by Siddharth Vij, Chaitanya Rathi, and Siddharth Rastogi in 2014, was later joined by Shubham Agrawal as the co-founder. The startup was looking at eliminating wholesalers and middlemen while empowering small retailers to procure directly from local shoe brands.
Initially, ShoeKonnect built a B2B platform for the footwear sector with manufacturers including brands like Columbus, Action, Campus, and others selling on the platform.T
The startup enables footwear brands, manufacturers, wholesalers and retailers to connect, communicate and transact with each other for expanding their business. It claims to have over 15,000 manufacturers on its platform.