D2C Footwear Brand Plaeto Raises Funds From Florintree Advisors, Others
Plaeto, a Bengaluru-based D2C footwear brand for children, has raised Rs 40 crore in a Series A funding round led by former Blackstone India private equity co-head Mathew Cyriac’s Florintree Advisors and other investors.
As per the startup, the freshly raised funds will be used to accelerate Plaeto’s strategic expansion to newer markets and product innovation and leverage technology to deepen its consumer-first approach.
Plaeto | D2C Footwear Brand For Children
Founded by Ravi Kallayil, Sara Kilgore, and Pavan Kareti in March 2020, Plaeto is a footwear startup that designs and offers unique, accessible, multi-purpose footwear for the Indian child.
The footwear startup has designed a host of proprietary elements for children’s growing feet, including FitSystem, which contains a proprietary Fitliner that gives an additional size from the same product without compromising on fit, comfort and performance.
Speaking about the development, Ravi Kallayil, Co-founder and CEO of Plaeto, said,
“As a technology-driven D2C footwear brand, we have always focused on science-based shoes and innovation that meets the Indian requirement. While innovations have happened across the board, including footwear, children’s footwear, as a category, has remained untouched, without any consumer-centric design or performance built into it.”
It also offers Plaeto365, a midsole that is responsive, supportive, and comfortable even after a year of usage and Plaeto FitWiz, which leverages technologies such as artificial intelligence (AI) and machine learning (ML) to recommend the best fit for every child.
The Bengaluru-based D2C startup claims to be working with some leading schools and educational institutes through its B2B2C channel and all top marketplaces such as Amazon, Flipkart and Myntra. Plaeto also sells through its consumer-facing D2C website, which has been witnessing strong growth since its launch in September 2021, claims the startup.