Your Foot Doctor, a successful Shark Tank funded startup, is giving an opportunity to its customers, well-wishers and retail investors to invest it and be part of its growth journey by crowdfunding on the Tyke Invest platform.

The Shark Tank funded startup got instant popularity for its customized insoles that can be made in 10 minutes.

On asked why Your Foot Doctor chose to fundraise on Tyke, its co-founder Rajeev Surana said,

“After we appeared on Shark Tank on 2nd February, we were flooded with calls from customers about how they believed in our vision and wanted to invest in our company. In fact, one customer said I have never invested in any company or even the stock market, but I am so touched by your passion and hard work that I want to invest in your venture. Then we discovered that one could crowdfund in India like the USA and other mature markets, and this got us excited to explore this option.”

On further research, the YFD team discovered that a number of Shark Tank brands such as Tagz Foods, Alpino, Artment and others have successfully crowdfunded on Tyke, making this a perfect opportunity for Your Foot Doctor to go fundraising on Tyke.

So, How Does The Tyke Platform Actually Work?

Founded by Karan Mehra, Tyke provides retail investors with an opportunity to invest in high growth startups, also helping them generate high returns. 

Tyke provides an opportunity to investors to get returns in the invested company without having to necessarily own equity in the company through an instrument called SARS, which stands for Share Appreciation Rights and is very popular in the USA, Singapore and other developed markets.

The investors have an option to exit the company through either cash payout or buy out by large institutional investors in future with an indicated annualised return in the range of 40% over the next few years.

They can also subscribe to equity shares when the company goes to fundraise at a 20% discount to the indicated pre-money valuation of USD 1.5 million, which will help them generate better returns for themselves. 

Your Foot Doctor Growth Plans

Colour Me Mad Pvt. Ltd., the parent company, has plans to take sales to Rs. 100 crore by March 2027, with an EBITDA of Rs.50 crore through its range of products and solutions such as insoles for every type of footwear, pain relief ayurvedic oil, and blood circulation increasing socks made from bamboo and exciting new launches which will help it touch 25,00,000 feet.

YFD has a presence online through its D2C site, Amazon India & USA and through the Centro footwear chain of 30 stores. It also has a presence in hospitals such as Saifee Hospital, Mumbai and clinics with renowned doctors such as Dr Premraj from AF Care Physiotherapy chain of clinics.

Rajeev summarises their fundraising with his quote,

‘When your customers become your business partners, the sky’s the limit. Through this fundraising, they will help achieve our vision of ‘Move without Discomfort’.

Their campaign will go live on the Tyke Invest platform on 31st May under its parent company, Colour Me Mad Pvt. Ltd. You can pre-register by clicking invest in Your Foot Doctor.

For more stories of startups, click Startup Stories.

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