Mainstreet Marketplace, a sneaker resale platform, raised $2 Mn in a seed round of funding on January 6, 2022. The round was led by Kunal Shah, founder of Cred, and Raj Shamani, an entrepreneur, digital content creator, podcaster, and investor. Other investors included Varun Duggirala, founder of Glitch; Rohan Batra, MD of Cravatex Brands; Prashant Iyer; Rohit Raj, founder of Glitch; Bhavisha Dave, founder of Capsul; and Keshav Hingorani, entrepreneur.
The funds raised will be used to expand Mainstreet’s limited edition sneaker line-up. They will also boost technology adoption to scale the platform and build a solution for both brands and creators. The company plans to leverage the capital to bolster hiring and scale its operations across Indian and global markets.
Mainstreet was founded in 2018 by Vedant Lamba. The company is headquartered in Mumbai, India. It stocks some of the most exclusive kicks from brands like Yeezy, Jordan, Adidas, Nike, and apparel from Fear of God, Essentials, Drewhouse, Supreme, Palm Angles, Off White, and others.
The sneaker resale market in India is growing rapidly. According to a report by RedSeer, the market is expected to reach $100 Bn by 2025. Mainstreet is well-positioned to capitalize on this growth. The company has a strong team, a differentiated offering, and a large and growing user base.
