Kids footwear brand Aretto raises Rs 4.5 crore funding

Kids footwear brand Aretto has secured $550k (Rs 4.5 crore) in a seed funding round from a host of investors including cricketer Hardik Pandya, Abhineet Singh, Shyam Raichura, Raunak Munot, Vermont Advisors, Vinayak Shrivastav, and Kunal Sumaya.

The company will utilise the funds to expand its market presence, team expansion, and research & development to launch new products.

Aretto uses a shoe technology for its footwear products, which the brand claims can expand up to three sizes. The technology has been granted a utility patent by the Indian Patent Office.

Commenting on the funding, Satyajit Mittal, CEO of Aretto in a statement said, “Aretto makes shoes that adapt to the shape and size of kids’ feet as they grow. Each investor is a mentor in their own 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 not only a testament to our investors’ confidence in our innovative kid’s technology, but it also reiterates our commitment to revolutionising the industry,” he added.

Founded in 2020 by Satyajit Mittal and Krutika Lal, Aretto plans to establish its first retail store in Pune and partner with multi-brand outlets in major cities across India.