Bengaluru-based D2C online brand Flatheadshas raised a sum of $1 million in pre-series A round led by startup investment platform We Founder Circle and angel network Dexter Angels. The round also testified participation from other investors including Gaurav Kapur (TV presenter and founder, Oaktree Sports), Sahil Barua (Co-founder, Delhivery) and Radhika Ghai (Co-founder, Shopclues).
With this investment, We Founder Circle closes its 20th investment in 2021 in furtherance of its mission to back early-stage startups in India. Angel investors financing in Flatheads through WFC include Siddharth Shah, Sandeep Balaji, Hemant Umbarkar, Swati Mittal, Victor Banerjee, Shefali Saxena, and NK Securities Research.
When asked, Neeraj Tyagi, Co-founder, We Founder Circle said,
“The funding in the D2C sector rose by 251 percent in the first seven months of the year 2021. The reason is the newly identified scope of growth, and performance of innovative business models in the field. Flatheads have a product innovation focus which has resulted in amazingly lightweight and comfortable shoes. They have taken a tough road by choosing to sell from their website aggressively while using big marketplaces also. As a result, they have created unique value by making their online website also a popular platform to launch multiple product lines in the future.”
Flatheads is the first Indian brand to introduce bamboo fibre shoes that are uniquely readjusted for the Indian tropical environment. Flatheads is penetrating the footwear division by building uncommon products that are well designed, high on comfort and distinctively suited for the modern urban purchaser.
“The pandemic has accelerated the adoption of online D2C brands. With the current fundraise, we aim to establish Flatheads as a lifestyle brand made in India for the world – by building the brand identity, expanding our presence internationally and investing in product differentiation,” stated Utkarsh Biradar, co-founder and chief executive officer, Flatheads.