Sols, the company known for its 3D-printed insoles, announced the completion of a $11.1 million Series B funding round to boost its channel to consumers.
Previous investors returned for this round of funding, including Founders Fund and Lux Capital. Significant new investments came from Tenaya Capital and Melo7 Tech Partners, a fund co-founded by Carmelo Anthony and Stuart Goldfarb. Sols is also announcing the appointment of Terdema Ussery, Dallas Mavericks’ president and CEO, to its board of directors.
Since the launch in July 2013, Sols has raised a total of $19.3 million. This latest addition of capital will be used to prepare for Sols’ direct to consumer launch and the development of smart technology.
Sols founder and CEO Kegan Schouwenburg said, “This is a pivotal time for Sols as we aim to bring our mass customized 3D printed footwear direct to the consumer. The vote of confidence we have from our current investors and the additions of Melo7 and Tenaya only continue to validate the need to transform the footwear industry and enhance the way we move.”