Trase Raises $500,000 in Angel Funding After Founders Reacquire Footwear Brand

Trase, a direct-to-consumer footwear brand founded in 2016, has secured fresh funding following a strategic reacquisition of the business by its original founders. In April 2024, co-founders Jitin Goel and Dhruv Gupta bought back Trase from consumer brand roll-up Upscalio and subsequently raised $500,000 in an angel funding round, marking a reset for the company and the beginning of a new growth phase.

The angel round was led by Deep Bajaj and Mohit Bajaj, co-founders of Sirona Hygiene, who backed the founders’ renewed vision for scaling the footwear brand. The round also saw participation from angel investors Shiven Malhotra, founder of Strategic Investments by Design, Vikas Gautam, CEO and head of international business at Aditya Birla Sun Life Asset Management Company, and Rohit Jain, former CEO of WTW. The investor group brings experience across consumer brands, financial services, and strategic advisory, offering Trase both capital and operational guidance.

Before its acquisition by Upscalio, Trase had demonstrated strong traction as a bootstrapped business. By 2020, the brand had scaled to an annual recurring revenue of ₹18 crore, driven entirely by self-funded operations. Trase built a reputation for offering comfort-focused footwear for women and children, and established a wide online footprint across major e-commerce platforms including Amazon, Flipkart, and Myntra. Its value-driven pricing and focus on everyday usability helped it gain visibility in India’s highly competitive footwear market.

In 2021, Upscalio acquired Trase as part of its strategy to assemble a portfolio of utility-focused consumer brands. Over time, Upscalio shifted its strategic focus toward home and kitchen categories, leading both parties to mutually agree that Trase would be better positioned under its original founders. The reacquisition returned full operational control to Goel and Gupta, enabling them to realign the brand’s roadmap with their original long-term vision.

The newly raised capital will primarily be used as working capital to strengthen core operations. Trase plans to expand its team, increase inventory levels, and invest more aggressively in marketing to accelerate growth. The founders have outlined ambitious targets, aiming to scale the business to ₹100 crore in annual revenue within the next three years, with a goal of achieving 100 percent year-on-year growth. As part of this strategy, the company is also exploring offline expansion, including shop-in-shop formats in the Delhi NCR region, to complement its digital-first distribution model.

Investor interest in Trase reflects broader momentum in India’s direct-to-consumer sector, particularly in categories such as footwear where demand for affordable, comfortable, and design-led products continues to rise. The backing from experienced angel investors is seen as a strong endorsement of the founding team’s ability to execute at scale and re-establish Trase as a competitive consumer brand.

Beyond commercial growth, Trase has also committed to a social impact initiative tied to its sales. The company plans to donate one pair of shoes to underprivileged individuals for every ten pairs sold, integrating community contribution into its business model.

With founder control restored and fresh funding secured, Trase is positioning itself for its next phase of expansion. The combination of renewed leadership focus, targeted capital deployment, and investor support is expected to help the company strengthen its presence in India’s footwear market and pursue sustainable, long-term growth.