Latest Alteria Capital News
Dec 7, 2021
Solethreads Introduces India's First-Ever: The Solester REUSE Programme Additionally, Raises Venture Debt of INR 2.5 Crores From Alteria Capital Gurugram, Haryana, India – Business Wire India Solethreads, the digital-first, innovation-led, comfort footwear specialist, has launched India’s first-ever and one of its kind product recycling and reuse initiative, ‘The Solester REUSE Programme’ - that aims at sourcing sustainable materials and encouraging the upcycling process. With this, the brand reinstates and further strengthens its ethical credentials based on the three pillars of Comfort, Innovation and Sustainability that the brand is built upon.Solethreads establishes and promotes circular fashion through The Solester REUSE Programme. This initiative allows anyone to exchange their flip flops and slippers, for reward points, which can be used to purchase the brand’s products. The footwear that the company receives through this initiative is in turn recycled and used to create new Solethreads eco-friendly flip flops.Solethreads is known for its best flip flops with trailblazing patents and technologies such as proprietary and patented ultra-comfortable SuperFoam™ footbeds made from recycled EVA products. That’s not all. The leading flip flop brand also goes one step further in its efforts to offset its carbon footprint through durable, skid-resistant ECOTREAD™ soles made using recycled rubber. Any part of the product that isn’t reclaimed or recycled, is 100% vegan, which has been sustainably sourced as well. The brand is now using its expertise to ensure these sustainable and innovative processes are being utilised for The Solester REUSE program.Speaking on The Solester REUSE Programme, Gaurav Chopra, Co-founder said, “With over 30 patents and counting, we lead innovation in the open footwear segment and take active steps in ensuring that all our products are either recycled, reclaimed or vegan; so that we can reduce our carbon footprint and work towards a sustainable tomorrow, today. As a part of this program, we also ensure to donate some items to relevant institutions and foundations, so that they can reuse them.” Recently, the brand also raised INR 2.5 crores in venture debt funding from Alteria Capital in order to broaden its research and development, product portfolio and to meet the growing demand for the best flip flops in the country.“With over 5,00,000 customers that are celebrating the joy of walking with Solethreads, we’ve grown into a much-loved and the most comfortable flip flops brand. This exciting partnership with Alteria Capital will support us in widening our pipeline of sustainable innovation to reach out to a broader base of customers and provide the best flip flops to the consumer,” as per SumantKakaria, the CEO and co-founder.According to Vivek Pillai, Principal, Alteria Capital, “Solethreads’ focus on comfort led by innovation and sustainability has struck a chord with the modern Indian consumer. We have closely watched them scale in a short span of time, and are excited to now partner with the team in building the next big challenger brand in the category.” Early this year, Solethreads raised Rs 13 crore in Series-A round funding from DSG Consumer Partners and Saama Capital. As the digital-first consumer brand one can buy slippers online and the best sliders for men and women through Solethreads’ D2C website, at all leading e-commerce platforms, including Amazon, Myntra, and Flipkart, and offline retail outlets (MBOs and leading footwear stores such as Metro Shoes).About Solethreads Solethreads is India’s PATHfinder flip flop brand and was co-founded in 2019 by Gaurav Chopra, SumantKakaria, AprajitKathuria and Vikram Iyer who wanted to disrupt the open footwear category with an emphasis on comfort, innovation and superior designs. They are making it easy for you to buy slippers online and trust the fact that you will get quality and comfort quite unlike any other. The company doesn’t just have flip flops, they also have a wide variety of best sliders for men and women.The company is a staunch advocate of equal opportunity employment. All its products are made by hand by the passionate women and men who make up our production team.You, therefore, get soles of tomorrow, made by the souls of today.For the brand, change and innovation are a way of life. The team of committed designers and professionals is helping Solethreads keep in step with the latest lifestyle trends.To View the Image, Click on the Link Below: Gaurav Chopra, A Solethreads Co-Founder. The company is a staunch advocate of equal opportunity employment, and over 50% of its total workforce are women.PWR PWR
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Alteria Capital has 2 team members, including current Managing Partner, Ajay Hattangdi.