Companies

Heelium receives seed funding from CIIE

Our Bureau Ahmedabad | Updated on September 05, 2018 Published on September 04, 2018

Heelium, a start-up that creates customised footwear products, has received seed funding from the Centre for Innovation, Incubation and Entrepreneurship (CIIE), the technology incubator of IIM-Ahmedabad.

Co-founded by Prateek Sharma and Siddharth Jain, Heelium aims to infuse technology-led research with design and manufacture of high performance, tailor-made footwear for runners. The customised footwear with special midsole material absorbs the impact five times more effectively than a regular midsole.

Heelium’s first product was the durable Bamboo athletic socks engineered to absorb more impact, provide odour control, and allow better perspiration. Its flagship products are Bamboo athletics socks and high-performance running shoes.

Selling exclusively through Amazon and running events, Heelium has sold over 4,000 units to individual customers since its launch in January 2018. The company plans to foray into enterprise sales to sports institutions like the Sports Authority of India, CIIE spokesman Vipul Patel said in a statement here on Tuesday.

“We are the only Indian footwear brand that is centered on technology and innovation as opposed to just the aesthetics of it,” said the co-founders.

At present, the team is working on customising shoes based on the runner’s foot shape and running style, and is targeting a commercial launch in December 2018. Heelium is also exploring the East Asian market through the K-startup programme in South Korea and is looking to set up online retail channels soon.

Published on September 04, 2018
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