Wiivv Wearables announced that it is launching into the next phase of custom-fit footwear after raising $4 million in Series A funding and acquiring eSoles, widely known for their modular customizable footbeds. These advancements will propel and support Wiivv's plans for new product launches in custom-fit footwear over the coming months and further establish their position as industry innovators.
Wiivv's Series A funding is being led by a private Seattle-based tech investor syndicate. Existing major investors Eclipse VC, Evonik Venture Capital, Real Ventures, and Asimov Ventures, will also join the round, which is set to officially close in Q1 2017.
Through the acquisition of eSoles, Wiivv will have possession of data for over 50,000 3D foot scans, allowing for enhanced precision in the development of the company's future footwear products. In addition, consumers will experience further refinement to Wiivv's popular, custom-fit, 3D printed insoles, which are made using body-perfect™ capture and computer vision technology on a smartphone. Combined with the company's state-of-the-art adaptive manufacturing system, the foot scan data will allow Wiivv to customize products to fit consumers' feet more accurately than ever before.
"The highlight of 2016 has been the formation of a world-class team of innovators and partners, who are all passionate about the positive everyday impact we can have in people's lives with custom-fit footwear becoming available mainstream," says Shamil Hargovan, CEO and Co-Founder. "We will accelerate our vision of every shoe made custom to you, and will continue to learn and lead as we bring custom footwear to the masses."
This announcement comes on the heels of a momentous and formative year for the start-up. Following its Kickstarter campaign in early 2016, over 10,000 Wiivv Full-Length and 3/4-Length Insoles have been shipped across the world and the company has grown 10 times year-over-year. Wiivv's next product will launch in Spring 2017.