Vegan direct-to-consumer footwear brand RapidBox has announced it has raised $4.5 million dollars in a Series A funding investment round, led by Asian based investment firm SIG Venture Capital.
RapidBox, which was launched back in 2019, said that the funding will be used to expand its product range, enhance customer experience and for brand building, according to an official press release.
“As a young brand, we see a lot of room for growth as we cater to growing footwear and fashion needs of consumers who are aspirational and early achievers” Arun Paliwal, co-founder of RapidBox, said in the release.
“RapidBox was launched to close the market gap in the footwear industry with a focus on uplifting product quality and consumer experience. With the continued support of our investors and consumers, we are looking forward to excelling with product and price innovation.”
“With the advent of social media, consumers of all segments are exposed to the latest footwear trends and have the same aspiration for these products” Bhavani Rana, investment adviser to SIG added.
“RapidBox fulfils these aspirations through rapid innovation to deliver beautiful shoes at price points that work for the economy segment.”