D2C footwear brand CHUPPS raises $1.5 mn in Pre-Series A funding round led by Green Frontier Capital
- ByStartupStory | May 27, 2022
Green Frontier Capital has invested $1.5 million (Rs 11 crore) in CHUPPS, a direct-to-consumer (D2C) sustainable footwear business in its Pre-Series A round of funding. Gunavanth Vaid of 4G Capital, Kaushal Vora of Genesis Packaging, Swanand Kelkar of Breakout Capital Advisors, and Gaurav Mathrawala of Mathsons Re-insurance Brokers were among the other main investors in the round. In addition, Soumitra Dutta has been added to the company’s board of directors as an advisor.
Sandip Bhammer, the managing partner at Green Frontier Capital said that CHUPPS is creating a made-in-India brand with global potential that its consumers will not only feel good about using today because of their styling, and comfort, or performance but also the future generations will relate to and appreciate.
Yashesh Mukhi, co-founder of CHUPPS said that Dutta’s significant expertise and understanding of global enterprises will give vital insights and learnings to the company. And a significant percentage of the cash will be utilised to boost penetration, enter new markets, and produce high-quality, trendy, and sustainable products.
CHUPPS was formed in 2019 by Gaurav Agarwal and Yash Mukhi. In September of this year, CHUPPS will release a sustainable shoe. CHUPPS claims to have discovered a new process for combining natural tree fibres with recycled materials to create an upcycled shoe that is lightweight, very comfy, and fashionable. Furthermore, CHUPPS will provide outdoor apparel for both men and women, with goods produced from innovative sustainable materials that provide excellent comfort and fashion.
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