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Cricketer Hardik Pandya Participates In Aretto's Rs 4.5 Crore Seed Funding Round

The other investors include VegNonVeg and Brewhouse co-founder Abhineet Singht

Cricketer Hardik Pandya Participates In Aretto's Rs 4.5 Crore Seed Funding Round

Outlook Start-Up Desk

POSTED ON August 20, 2023 4:45 PM

Aretto has secured $5,50,000 (around Rs 4.5 crore) from a clutch of angel investors and advisors. This included cricketer Hardik Pandya; Abhineet Singh, co-founder of VegNonVeg and founder of Brewhouse, Shyam Raichura, managing director of Aan Group, Raunak Munot, ex-chief marketing officer of Bombay Shaving Company; investment banking firm Veromint Advisors, Vinayak Shrivastav, co-founder of Videoverse and Kunal Sumaya, managing director of Julius Bear.

Aretto offers technologically designed children's shoes that adapt to the shape and size of kids' feet as they grow. The company will strategically channel and utilise the funds to expand its market presence, drive team expansion, and increase research and development efforts to introduce newer product ranges.

Satyajit Mittal, CEO of Aretto, commented, "We are immensely grateful for the support and trust shown by our investors at this crucial stage of Aretto's journey. Each investor is a mentor in their capacity and a well-wisher of the brand, sharing our larger vision and belief in the team's determination and grit. This seed funding is a testament to our investors' confidence in our innovative kids' technology and reiterates our commitment to revolutionising the industry."

Raunak Munot, ex-CMO of Bombay Shaving Company, commented, "It is rare to come across a company that has a truly innovative product, in a big addressable market, that has the potential to redefine a category, globally. The fact that Aretto's products are designed and made in India instils a sense of pride in me. Clubbing that with the team's passion and execution agility further amplifies my trust in the brand's vision. As someone who has recently embraced fatherhood, I believe Aretto's approach seamlessly matches the demands of modern parenting."

Aretto plans to open its first retail store in Pune, offering an immersive shopping experience for families. In addition to Pune, the brand has ambitious plans to establish stores and partner with multi-brand outlets in key metropolitan cities, catering to a wider customer base in India.

With this funding, Aretto is eager to welcome new talents into its passionate and dynamic team. The company seeks driven, creative individuals who share the vision of nurturing kids' growth. 

Aretto, the brainchild of Satyajit Mittal and Krutika Lal, was founded in 2020 to address a void in the kids' footwear market. The brand was granted a patent for its sole technology, and its Aretto Leap's ergonomic fit offers optimal comfort and intuitively adjusts to the kids' natural foot shape, expanding 360° to fit up to 3 sizes, aligning perfectly with their growth patterns.  

As part of its growth strategy, Aretto plans to unlock new distribution channels and make significant strides in retail operations to make its complete product line available to a broader audience.

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