Sneakers Marketplace DawnTown Raises Funding From Actor Sanjay Dutt
DawnTown, an online sneaker resale platform, has raised seed funding of $500,000 (around Rs 4.13 crore) from Netsurf Communications’ Sujit Jain and actor Sanjay Dutt.
As per the startup, the raised funds will be used to foray into physical retail stores across India and scale up its online footprint.
DawnTown | Online Sneaker Resale Platform
Founded by Kushagra Patwari and Risheek Agrawal in 2021, DawnTown is a one-stop marketplace for hype sneakers & streetwear from brands like Jordan, Yeezy, Nike, Adidas, and many more. The Mumbai-based firm authenticates and resells high-end sneakers unavailable on any platform or at retail stores.
Speaking about the fundraiser, Kushagra Patwari and Risheek Agrawal said, Co-founders of DawnTown, said,
“With this investment, our major goal would be to set up our flagship store in Pali Hill, Mumbai, curate our inventory, enhance the experience for the consumer, and provide sellers a platform to sell their sneakers while getting the fastest payout.”
As per the Mumbai-based firm, the funding will contribute to the brand’s plans to enhance the technology and shopping experience to offer consumers authentic sneakers and apparel right at their doorsteps.
The sneaker resale platform also plans to open multiple retail outlets in India to augment the offline sneakers shopping experience for its consumers.
Commenting on the development, Sanjay Dutt said,
“I have been a sneakerhead all my life… I was smitten by the make, designs, and colours. I am so thrilled and excited to attach my name to a whole range that represents my love for sneakers. We plan to go wild with it and create groundbreaking products together.”
Sujit Jain from Netsurf Communications said,
“Empowering young and talented entrepreneurs is always delightful. The team at Dawntown has figured out many relevant aspects of their business model at an early stage. I was impressed with their focus on authenticity and knowledge of contemporary fashion trends.”
Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.