Total amount raised
$1.7 Million
Latest funding date
09/01/2021
Location
Flatheads has successfully completed 2 funding rounds, attracting investments from notable backers such as Akshit Goyal, Radhika Ghai, Dexter Angels, GetVantage, and We Founder Circle. The company, known for its innovative bamboo footwear, has been acquired by Styched.
Keep reading to explore the intricacies of Flatheads' fundraising journey and the investors backing this unique lifestyle brand.
What Is Flatheads?
Flatheads is a lifestyle brand based in Bangalore, Karnataka, India, known for designing and creating shoes from India for the global market. The company has gained recognition for launching India's first bamboo footwear and operates in the e-commerce, fashion, retail, and shoe industries.
With a small team of 11-50 employees, Flatheads has been acquired by Styched and continues to function as a private entity. The company has successfully raised seed funding and is supported by multiple investors.
How Much Funding Has Flatheads Raised?
- Pre-Seed Round
- Amount Raised: USD 725,000
- Date: February 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund initial product development and market entry.
- Seed Round
- Amount Raised: USD 1,000,000
- Date: September 2021
- Lead Investors: Dexter Angels, GetVantage, We Founder Circle
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund international expansion and product differentiation.
Total Amount Raised: USD 1,725,000. Current Valuation: Not publicly disclosed.
Key Investors
- We Founder Circle
- Details: We Founder Circle is a startup investment platform focused on funding early-stage startups in India. They have completed 20 investments in 2021.
- Investment Focus Areas: Early-stage startups, innovative business models, product innovation.
- Notable Investments: Flatheads.
- Dexter Angels
- Details: Dexter Angels is an angel network that invests in early-stage startups. They are known for supporting indigenous, purpose-driven brands with potential for scale-up.
- Investment Focus Areas: Early-stage startups, indigenous brands, purpose-driven brands.
- Notable Investments: Flatheads.
- Gaurav Kapur
- Details: Gaurav Kapur is a TV presenter and the founder of Oaktree Sports. He is involved in various entrepreneurial ventures.
- Investment Focus Areas: Not explicitly mentioned.
- Notable Investments: Flatheads.
- Sahil Barua
- Details: Sahil Barua is the co-founder of Delhivery, a leading logistics and supply chain services company in India.
- Investment Focus Areas: Not explicitly mentioned.
- Notable Investments: Flatheads.
- Radhika Ghai
- Details: Radhika Ghai is the co-founder of ShopClues, an e-commerce platform in India. She has a background in retail and e-commerce.
- Investment Focus Areas: Not explicitly mentioned.
- Notable Investments: Flatheads.
What's Next for Flatheads?
Flatheads is poised for significant growth, with opportunities for international expansion and product differentiation. The D2C sector's rapid growth, driven by increased online shopping, presents a fertile ground for Flatheads to establish itself as a global lifestyle brand. The company's innovative approach, such as introducing bamboo fiber shoes, positions it well to capture a unique market segment.
Future fundraising rounds seem likely as Flatheads continues to expand and innovate. The successful pre-Series A round indicates strong investor confidence, which could translate into more financial backing. However, the company will need to navigate the competitive D2C market, maintain product innovation, and manage the complexities of international expansion to sustain its growth trajectory.
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