Yoho Raises Rs 27 Crore for Growth

Yoho, a direct-to-consumer footwear startup based in New Delhi, has successfully raised Rs 27 crore ($3.2 million) in a pre-Series B funding round led by Gulf Islamic Investments (GII), with participation from several prominent investors including Rajeev Misra and Vijay Shekhar Sharma. The funds will be used for product development, marketing, research and development, recruitment, and to enhance its offline presence by targeting partnerships with 2,000 multi-brand outlets in India. Founded in 2021, Yoho has experienced significant growth, aiming for an annual revenue of around Rs 90 crores, driven by a 400% increase in shoe sales and 180% in slippers. The startup plans to expand its product range to 300 styles by 2025 and venture into international markets, including the Middle East and the US. Approximately 80% of its revenue currently comes from online sales, with the company also looking to boost its offline sales. GII’s co-founder highlighted Yoho's innovative approach to affordable, biomechanically designed footwear as a key market opportunity.