Psudo Inc. a sneaker startup with production in the US, has recently completed a $3 million seed financing round managed by SternAegis Ventures, who acted as placement agent, the company announced last week.
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Founded in 2020, by husband and wife duo Michael and Kortney Rich, LA-based Psudo uses REPREVE yarn made from recycled water bottles. Psudo's sustainable sneakers are of slip-on construction with printed laces and are designed using 3D sublimation printing. By creating a way to manufacture shoes on demand, the brand plans to establish a new and innovative standard for sustainable manufacturing.
"Creating a lifestyle sneaker company with a mission and values that people can believe in is the dream. 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," said CEO Michael Rich.
The funding will allow Psudo to scale by investing in its product pipeline and distribution channels, including wholesale, its sustainable supply chain, and omnichannel marketing strategy. This raise comes as the brand continues to experience growing demand from individuals who are looking for quality, sustainability, affordability, and transparency in the sneaker industry.
