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Footwear brand Trase reacquired from Upscalio, raises $0.5mn

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Trase was acquired by Upscalio in 2021 as part of its strategy to build a diversified portfolio of brands in utility categories

New Delhi: Founders of the Delhi-based direct-to-consumer (D2C) footwear brand Trase have successfully reacquired their brand from the roll-up company Upscalio, a release by the company said on Tuesday.

This strategic move was swiftly followed by a $0.5 million Angel round, post-acquisition, led by prominent investors Deep Bajaj and Mohit Bajaj, co-founders of Sirona Hygiene, along with Shiven Malhotra, Vikas Gautam, and Rohit Jain, the release added.

“Building Trase was a labour of love and passion. With the support of angels led by Deep and Mohit Bajaj, we managed to repurchase Trase. We’re now focused on scaling the brand and are optimistic about regaining our leading position in the market within this financial year, ” said Jitin Goel & Dhruv Gupta.

Established in 2016, Trase saw growth under the leadership of Jitin Goel and Dhruv Gupta, achieving an impressive annual recurring revenue (ARR) of 18 crore by 2020, entirely self-funded. Later, in 2021, Trase was acquired by Upscalio as part of its strategy to build a diversified portfolio of brands in utility categories. However, due to a strategic shift focusing on brands specifically in the Home and Kitchen categories, a mutual decision was reached with Trase’s promoters and new investors to divest the brand.

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