Flatheads raises USD 1 mn in funding from We Founder Circle, Dexter Angels

Direct-to-customer (D2C) online casual sneakers brand Flatheads on Thursday said it has raised USD 1 million (around Rs 7.3 crore) in a funding round led by start-up investment platform We Founder Circle and Dexter Angels.

The pre-series A funding round also witnessed participation from other investors including Gaurav Kapur (TV presenter and founder, Oaktree Sports), Sahil Barua (co-founder, Delhivery) and Radhika Ghai (Co-founder, ShopClues), Flatheads said in a statement.

Including the current round, Flatheads has raised a total of USD 1.5 million since its inception.

''The pandemic has accelerated the adoption of online D2C brands, and we are seeing supercharged growth with a focus on everyday comfort.

''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,” Flatheads co-founder and CEO Utkarsh Biradar added.

The brand plans to utilise funds in international expansion and product differentiation in the market.