PC: Indian Startup News
Shoe care brand for Mohali, SHOEGR, has successfully raised $100,000 in pre-seed funding round led by early-stage startup accelerator, PedalStart. This funding is a milestone for the company, helping it grow the market and widen its product portfolios. SHOEGR plans to use the investment to grow and scale its operations, expand to customer reach and higher brand awareness initiatives.
SHOEGR’s Vision and Offerings
SHOEGR is a company founded by Saurabh Gupta, Anuj Sachdeva, and Ankit Roy that aims at providing a variety of shoe cleaning, protecting and storing solutions. According to the founders, shoe care should be an included constituent of one’s personal grooming and style, rather than seeing it as an addendum to the equation. For them, shoes should be more than just how you wear them, they want to build a culture that values shoes and brings them with you wherever you go in the age of consumers.
The products offered by the brand are those which are meant to prolong the life of shoes. SHOEGR puts forward its effort to become a name to reckon with in India for the brand of shoe care by focusing on quality and effectiveness.
Strategic Use of Funds
As PedalStart has raised funds, it will strategically deploy these funds to various key areas.
- The Product Portfolio Expansion: SHOEGR is going to bring the variety of the product range to fit the wider market and serve customers with different needs.
- Market Reach Increase: The company will aim to increase its direct to consumer (D2C) presence through its presence in e-commerce; elevated orders on its platform.
- Retail Partnerships: SHOEGR is working towards setting up new retail partnerships to expand the reach to more customers and increase the availability of its products.
- Marketing and Promotional Activities: The brand will engage in marketing and promotion of the brand for raising awareness about the need for shoe care along with its product offerings.
Current Market Presence
The market for SHOEGR has already done quite well at this point. The brand, other than its website, also makes its product available through famous e-commerce websites like Amazon, Flipkart, Myntra, and Ajio. The startup, in its own report, has, as of October the previous year, taken up monthly sales of Rs 50 lakh and plans to grow monthly sales beyond Rs 1 crore by FY 2025-26.
Investor Confidence
PedalStart Founding Partner Chintan Kalla was keen on investing in SHOEGR, praising its efforts towards filling gaps in the footwear industry. Speaking about operating in a nascent yet high-potential segment, SHOEGR is in a strong position to establish itself as a leading name in the shoe care segment in India, he said. The accelerator is excited to be part of SHOEGR’s growth journey and to support its further development in the future, said Kalla.
Conclusion
SHOEGR’s successful funding round shows the enthusiasm in niche markets in the Indian startup ecosystem. SHOEGR has a crystal marketing plan, innovative products and quality commitment that will put it as a force to be reckoned with in the industry of shoe caring. To continue expanding the brand’s offerings and enhance its market share, the company encourages its market presence in the culture of shoe care that will resonate with consumers everywhere.
