Startup which is based out of Pune Heelium has raised an undisclosed amount of seed funding from Centre for Innovation, Incubation and Entrepreneurship (CIIE), which is a technology incubator of IIM-Ahmedabad.
The recent investment is part of its Power of Ideas initiative, as revealed in a news.
The startup which is founded by IIT-Roorkee graduates Prateek Sharma and Siddharth Jain in the year 2017, Heelium manufactures high performance, tailor-made footwear for athletes and runners. The customised footwear with special midsole material absorbs the impact five times more effective than a regular midsole, claims the startup.
Heelium was also given a grant by the Government of India, Department of Science and Technology, for technology development.
The startup’s first product is Bamboo Athletic socks, which is merely made from bamboo fibre keeps the socks dry, controlling the growth of bacteria and odour in the feet.
“We are the only Indian footwear brand that is centred on technology and innovation as opposed to just the aesthetics of it,” said the co-founders.
Heelium is also exploring the East Asian market with the help of a K-startup programme in South Korea and is looking to set up online retail channels soon.
After its launch in 2007, CIIE has accelerated more than 500 startups with the help of various programs.