ROOY, a San Francisco, CA-based shoe design incubation platform, secured $3.4m in seed funding.
The round was led by Formation 8 with participation from Korea Investment Partners, a Seoul-based private equity company.
The company intends to use the funds to expand its online presence and global marketing, and continue to develop its manufacturing capacity.
Founded in 2014 by Ryan Kang, ROOY provides a platform that allows brands and designers to present their creations to an engaged community of shoe lovers, who vote for which designs will reach the market, in order to speed up the process of R&D to manufacturing.
Early adopters are offered discounted prices if they reserve during the development process rather than wait for the product to be completed.
The company, which has an R&D center in Busan, Korea, also offers retail partnerships to increase the sales potential of each project.
FinSMEs
19/10/2015