Sunday, June 23

Premium Sneaker Brand Mainstreet Marketplace Secures $2 Million

Bengaluru, 30th June, 2023: Premium Sneaker Resale platform, The Mainstreet Marketplace raises $2 million in a seed funding round led by zerodha’s cofounder Nikhil Kamath, Abhijeet Pai’s fund Gruhas and others. 

There was participation from Silverneedle Ventures, Deepinder Goyal, founder of Zomato, Sujeet Kumar, founder of Udaan, Amarjit Batra, managing director of Spotify India, Yogesh Chaudhary, director of Jaipur Rugs, Sujeet Kumar and Arjun Vaidya, founder of Dr. Vaidya. Comedian Tanmay Bhat, actors Mouni Roy and Ashish Chanchlani, musician Nikhil Chinappa also took part in the funding round.

The D2C platform will deploy the funds towards hiring an experienced senior management team, expanding their brick-and-mortar into more cities, and building on the quality of their customer experience. 

The company had also raised an undisclosed amount in pre-seed funding in 2022 and stocks premium brands like Yeezy, Jordan, Adidas, Nike, and apparel from Fear of God, Essentials, Drewhouse, Supreme, Palm Angles, Off White and the likes. 

Commenting on its latest funding, Vedant Lamba, founder of The Mainstreet Marketplace said, “This is an exciting landmark not only for us as a business but for this industry and community. I feel privileged to be surrounded by a team that inspires me every day with their zeal in building to our collective vision. We are being backed by a cap table I could only dream of, and this is very clearly just the start.”

On the investment, Nikhil Kamath said, “Consumption as a sector is something we are really bullish on. Often investing in a company is really investing in the person who runs the company, Lamba is not only one of the brightest young operators we have met in a long time but also a friend. Excited to be on this journey with him.”

“Vedant is one of the best Founders I have met so far, and I am privileged to be a part of his journey,” added Deepinder Goyal. 

“This capital is going to go a long way in helping us solidify our vision of building our distribution both via content and e-commerce around this country. Our community is growing rapidly and we are very excited to build more value for them with all the support we’re receiving through this round,” said co-founder and managing partner Karan Khatri.