D2C brand Rapidbox raises funds for brand building
26 November 2022, Mumbai:
Rapidbox has gone in for a round of fund raising. The brand will use the funds for diversification of its product portfolio, customer acquisition, and brand building.
This is a Bangalore-based direct-to-consumer sports and casual footwear brand founded in 2019. It caters to the footwear and fashion needs of consumers who are aspirational and early achievers. Rapidbox was launched to close the market gap in the footwear industry with a focus on uplifting product quality and consumer experience and looks forward to excelling with product and price innovation.
Rapidbox retails its sports and casual footwear through its website as well as e-commerce platforms like Flipkart, Myntra, among others. The brand controls the manufacture of goods with an in-house line, which allows it to run quality checks and have an end-to-end view of the supply chain.With the advent of social media, consumers of all segments are exposed to the latest footwear trends and have the same aspiration for these products. Rapidbox fulfills these aspirations through rapid innovation.
D2C brands raised $543 million in funding across stages during fiscal year 2022, which is higher than the cumulative funding raised by them in the previous years. Despite the current funding environment, some retail D2C brands have raised funds this year.
