Are wool sneakers the future of footwear? Some investors think so.
Investors seem to think sustainable sneakers have potential.
Allbirds, the San Francisco-based startup that makes wool sneakers, just closed on $7.25 million in a new round of funding.
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The Series A round was led by Maveron, the venture capital firm co-founded by Starbucks CEO Howard Schultz. Seed investors Lerer Hippeau, Peterson Partners, Great Oaks VC, Red Sea Ventures and Slow Ventures also participated, Allbirds said.
The $7.25 million adds to Allbirds’ $4.9 million in seed funding.
Launched last March, Allbirds makes men’s and women’s shoes whose main appeal is their material. The New Zealand merino wool Allbirds uses is designed specifically to be breathable, flexible and lightweight. The shoes are meant for casual wear, not active use. Read more…More about Maveron, Starbucks, Howard Schultz, Allbirds, and Sneakers
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