Wiivv raises $5.2 million Series A, acquires Arizona-based competitor

Vancouver-based Wiivv, which offers custom 3D printed insoles, has announced a fresh $5.2 million CAD ($4 million USD) Series A.

Wiivv’s Series A is being led by a private Seattle-based tech investor syndicate. Existing major investors Eclipse VC, Evonik Venture Capital, Real Ventures, and Asimov Ventures, will also join the round, which will officially close in Q1 2017.

The company also announced the acquisition of Scottsdale, Arizona-based eSoles, which creates 3D printed custom insoles for athletes. Through the acquisition, Wiivv will have possession of data for over 50,000 3D foot scans, and enhance its own precision in the development of the company’s future footwear products. Wiivv plans to launch its next product in spring 2017.

“The highlight of 2016 has been the formation of a world-class team of innovators and partners, who are all passionate about the positive everyday impact we can have in people’s lives with custom-fit footwear becoming available mainstream,” says Shamil Hargovan, CEO and co-founder of Wiivv. “We will accelerate our vision of every shoe made custom to you, and will continue to learn and lead as we bring custom footwear to the masses.”

In December 2015, Wiivv raised a $3.5 million seed round ahead of its market entry, before going on to have a strong 2016. The company broke the record as the most funded 3D printed project in Kickstarter history, and was a top four finalist in TechCrunch’s CES hardware battlefield. Wiivv was also among the Forbes 30 Under 30 for that year.

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor.