Total amount raised
$1.7 Millions
Latest funding date
09/01/2021
Location
Flatheads has successfully navigated the funding landscape, securing investments from notable backers such as Akshit Goyal and Radhika Ghai. The company recently closed a Seed round on September 16, 2021, marking a significant milestone in its financial journey.
Keep reading to explore the intricacies of Flatheads' fundraising journey and the investors backing this innovative footwear brand.
What Is Flatheads?
Flatheads, founded on November 19, 2019, is a lifestyle brand based in Bangalore, Karnataka, India. The company specializes in designing and creating innovative footwear using natural materials like bamboo and banana fiber.
Founded by Ganesh Balakrishnan and Utkarsh Biradar, Flatheads aims to revolutionize casual footwear with products that are comfortable and suitable for all-day wear. Their offerings include Linen Sneakers, Retro Plus, Chic Sneak, Ellipsis, and a customization service called WYN (Wear Your Name).
With a team of 11-50 employees, Flatheads continues to make strides in the footwear industry, focusing on sustainability and comfort for the global market.
How Much Funding Has Flatheads Raised?
- Pre-Seed Round
- Amount Raised: $725K
- Date: February 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial product offerings and establish a market presence.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: GetVantage
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product development.
- Seed Round
- Amount Raised: ₹73M
- Date: September 2021
- Lead Investors: Dexter Angels, We Founder Circle
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product line and scale the business globally.
Total Amount Raised: $1.5 million
Current Valuation: Not publicly disclosed
Key Investors
- We Founder Circle
- Details: We Founder Circle is a network of founders and investors that provides funding and mentorship to early-stage startups. They have completed 20 investments in 2021.
- Investment Focus Areas: Early-stage startups, various sectors.
- Notable Investments: Specific notable investments are not mentioned.
- Dexter Angels
- Details: Dexter Angels is an angel investment group that focuses on early-stage investments in innovative startups. They are known for their involvement in high-growth potential startups.
- Investment Focus Areas: Early-stage startups, innovative startups.
- Notable Investments: Specific notable investments are not mentioned.
- Gaurav Kapur
- Details: Gaurav Kapur is a TV presenter and the founder of Oaktree Sports. He is a notable figure in the media industry.
- Investment Focus Areas: Media, sports, innovative startups.
- Notable Investments: Specific notable investments are not mentioned.
- Sahil Barua
- Details: Sahil Barua is the co-founder of Delhivery, a logistics and supply chain company. He has a significant presence in the logistics sector.
- Investment Focus Areas: Logistics, supply chain, innovative startups.
- Notable Investments: Specific notable investments are not mentioned.
- Radhika Ghai
- Details: Radhika Ghai is the co-founder of ShopClues, an online marketplace. She is a prominent figure in the e-commerce industry.
- Investment Focus Areas: E-commerce, online marketplaces, innovative startups.
- Notable Investments: Specific notable investments are not mentioned.
What's Next for Flatheads?
Flatheads is poised for significant growth, with opportunities for international expansion and product differentiation. The recent $1 million pre-Series A funding will help the company scale operations and introduce innovative products like bamboo fiber shoes, catering to the global market.
Future fundraising rounds are likely as Flatheads continues to attract investor interest, driven by the booming D2C sector. However, challenges such as intense competition and navigating international markets could pose hurdles. Maintaining product innovation and managing supply chains will be crucial for sustained success.
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