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- ByStartupStory | May 3, 2023
SoleSearch, a street culture e-commerce company, has announced that it raised Rs 6 crore in its first funding round to expand its online and offline businesses in the next quarter. The investment round saw participation from notable investors such as Venture Catalyst, Anthill Ventures, Cornerstone Sports LLP, and others.
Originally established in 2021 as a community platform for trading sneakers, SoleSearch has evolved into an ecosystem that allows enthusiasts of sneakers and street culture to bid, buy, and trade verified, limited-edition products both online and offline.
The streetwear industry in India generated a revenue of $2.6 billion in 2022 and is projected to grow at an annual rate of 11.58 percent, highlighting the significant business prospects in the thriving streetwear market. SoleSearch aims to organize India’s unstructured street and youth culture market for present and future generations of consumers by providing a platform for sneakers, streetwear, accessories, and collectibles.
Param Minhas, CEO and co-founder of the company, said, “Our network of resellers is comprised of experts who understand the needs and desires of our target audience. Our goal is to revolutionize Indian street culture.”
The upcoming plans of SoleSearch include the launch of its mobile application, as confirmed by its co-founder and advisor, actor Rannvijay Singha. He further added that the company has plans to expand its offline stores in Hyderabad and Mumbai in the coming months. Along with this expansion, SoleSearch aims to increase its workforce and create a larger team.
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