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Eco-friendly sneaker start-up, Psudo, raises three million dollars in seed funding

By Rachel Douglass

May 20, 2022

Business

Image: Psudo

US sneaker brand Psudo has announced the completion of a three million dollar seed financing round, led by SternAegis Ventures.

The sustainable start-up, which utilises Repreve yarn for its sneakers, will use the funding to develop plans to establish a new standard for sustainable manufacturing that will allow shoes to be created on demand.

Additionally, the financing will support the company’s wholesale, supply chain and omnichannel marketing, allowing it to scale its product pipeline and distribution channels.

Founded in 2020 by husband and wife duo Michael and Kortney Rich, the LA-based label is ultimately aiming to create the world’s most eco-friendly sneaker by 2023, looking to alleviate the pressure on waste management and reuse single-use plastic bottles.

“Creating a lifestyle sneaker company with a mission and values that people can believe in is the dream,” said Michael RIch, CEO of Psudo, in a release.

Rich continued: “I’ve spent decades in the shoe-making business, from design and engineering to manufacturing and distribution, and sneakers are among the toughest items to produce locally and sustainably. We’ve taken our industry knowledge and experience and created Psudo with the goal to reinvent and innovate the sneaker industry.”

Currently, Psudo sneakers typically take eight weeks from concept to execution, with two silhouettes for men and three for women, all of which are 100 percent made in the US.

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