Psudo, a sneaker startup that makes its shoes from the sole up in the USA, disclosed a $3 million seed round on April 29, 2022, Business Insider reported.
Founders Michael and Kortney Rich launched Psudo in 2020. SternAegis Ventures, the investment arm of Aegis Capital Corp., led the round. Michael Rich said the money will fund hiring and marketing and help the company reach profitability.
Building a domestic supply chain
- The couple sourced the uppers, outsoles and custom lasts in the USA. Rich said only a handful of companies here make lasts.
- A contract factory in Los Angeles assembles the shoes.
- The uppers use yarn made from recycled plastic bottles.
- The slip-on shoes retail for $128.
Rich said Psudo avoided many of the shipping delays that hit other footwear brands in 2020 and 2021.
“Our shoes are not sitting on boats.”
Michael Rich, co-founder, Psudo
FAQ
How much did Psudo raise?
$3 million in seed funding.
Who led the round?
SternAegis Ventures.
Where are the shoes made?
At a contract factory in Los Angeles.
Source & credit
Source: Business Insider, by Matthew Kish: “How Psudo founders turned one investor’s love for their American made and sourced sneakers into a $3 million investment”.