Kids Footwear Brand Aretto Secures INR 4.5 Crore Funding, Spearheaded by Hardik Pandya

• ByStartupStory     |    August 18, 2023

Kids footwear startup Aretto recently secured $550k in a seed funding round, with notable investors including cricketer Hardik Pandya, Abhineet Singh (Co-founder of VegNonVeg), Shyam Raichura (MD of Aan Group), Raunak Munot (Ex-CMO of Bombay Shaving Company), investment banking firm Vermont Advisors, Vinayak Shrivastav (co-founder Videoverse), and Kunal Sumaya (MD of Julius Bear).

“Aretto makes shoes that adapt to the shape and size of kids’ feet as they grow. The company said it will deploy capital to expand its market presence, expand its team, and enhance research and development to launch new products.Each investor is a mentor in their own capacity and a well-wisher of the brand, sharing our larger vision and belief in the team’s determination and grit. This seed funding is not only a testament to our investors’ confidence in our innovative kid’s technology, but it also reiterates our commitment to revolutionising the industry,” said Satyajit Mittal, CEO, Aretto in a statement.

Founded in 2020 by Satyajit Mittal and Krutika Lal, Aretto plans to establish its first retail store in Pune and collaborate with multi-brand outlets in major cities across India. The company’s unique shoe technology, which can expand up to three sizes, has been granted a utility patent by the Indian Patent Office. This milestone sets Aretto apart in the industry, contributing to India’s footwear market valued at $13.49 billion in 2021.

The fact that Aretto’s products are designed and made in India instils a sense of pride in me,” said Munot

“This makes Aretto one of the first in this segment in the world to reach this milestone, allowing the brand to carve a niche for itself in the country’s footwear market valued at $13.49 billion in 2021,”Satyajit Mittal, Co-founder & CEO had told FE in March this year in an interaction.

Market research firm IMARC reported that the Indian footwear market reached $15.1 billion in 2022 and is projected to grow at a CAGR of 12% from 2023 to 2028, reaching $31.2 billion by 2028.

Follow Startup Story