Hands-free sports shoe brand gets $20m boost
US-based footwear brand Kizik, which specialises in developing hands-free athletic leisure shoes, has raised $20 million as part of a Series B funding round led by private equity firm The Newcastle Network.
Kizik benefits from parent company HandsFree Labs’s portfolio of over 100 patents and patents pending. It will use the funds to establish a children’s footwear line, Kizik Kids, as well as branch out into bricks-and-mortar retail. The company also has plans to expand its existing product lines by venturing into slip-on high-top trainers and Chelsea boots.
“Kizik delivers on a new level of simplicity, comfort and quality for the people who don’t want to compromise total ease with great style in their everyday life,” said managing partner at The Newcastle Network, Chris Casgar.
The hands-free footwear category currently has “tremendous momentum” behind it, Mr Casgar observed. HandsFree Labs has previously entered into an intellectual property licensing agreement with sports brand Nike.
Image: Kizik.
