The street culture e-commerce company SoleSearch said in a press release that it has raised Rs. 6 crore in its first investment round in order to scale both its online and offline businesses in the upcoming quarter.
In this investment round, notable investors like Venture Catalyst, Anthill Ventures, Cornerstone Sports LLP, and others took part.
According to a press release, the company, which began in 2021 as a community network for trading trainers, has transformed into an ecosystem for sneaker and street-culture fans to bid on, purchase, and trade verified, limited-edition products both online and offline.
Industry projections state that with an expected annual growth rate of 11.58 percent, the streetwear segment’s revenue in India would reach $2.6 billion in 2022.
With its sneakers, streetwear, accessories, and collectibles, the firm seeks to organise India’s unorganised street and youth culture market for the current and upcoming generations of Indian consumers.
Param Minhas, co-founder and CEO of the brand said, “We have built a robust network of resellers who are experts in understanding the cohort’s needs or demands. We are trying to redefine the street culture in India.”
