US sneaker startup, Psudo, raises $3M in seed funding

YarnsandFibers News Bureau 2022-05-23 06:24:47 – USA

US-based sneaker brand, Psudo, has completed a three million dollar seed financing round headed by SternAegis Ventures.

The investment will be used to build ideas for establishing a new standard for sustainable manufacturing that would allow shoes to be made on demand by the sustainable start-up, which uses Repreve yarn for its sneakers.

The funding will also help the firm with wholesale, supply chain, and omnichannel marketing, allowing it to expand its product pipeline and distribution channels.

Founded in 2020 by husband and wife team Michael and Kortney Rich, the Los Angeles-based label's ultimate goal is to build the world's most eco-friendly shoe by 2023, seeking to reduce waste and repurpose single-use plastic bottles.

Michael RIch, CEO of Psudo, said that the objective is to create a lifestyle sneaker brand with a vision and principles that people can believe in.

Rich added that he has spent decades in the shoe-making business, from design and engineering to manufacturing and distribution, and sneakers are among the most difficult goods to create locally and sustainably. Psudo was founded on their industry knowledge and experience with the purpose of reinventing and innovating the sneaker industry.

Adam Stern, CEO of SternAegis Ventures, said that Psudo is an innovative, hi-tech, made-in-the-USA shoe label that has streamlined sneaker manufacturing and blended it with sustainability, comfort, and style. They at SternAegis Ventures are pleased to work with Michael and Kortney, as well as the rest of the Psudo team, to help them reinvent the shoe market.

Psudo sneakers provide anatomical foot support, making them extremely comfortable and the ideal "running around" shoes. Their basic design and printed graphics significantly minimize the carbon impact of traditional shoe manufacture while providing consumers with a plethora of alternatives. Psudo sneakers normally take 8 weeks from concept to implementation and are available in two sneaker styles for men and three for women, in a range of colors.

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