What is Soda?
Soda operates as a specialized digital marketplace facilitating the authentication and resale of high-demand sneakers. Based in Tokyo, the company leverages advanced logistics and verification protocols to ensure trust in a fragmented secondary market. By bridging the gap between collectors and casual buyers, Soda has effectively captured a significant share of the Japanese retail sector. The platform's business model relies on high-frequency transactions and a curated inventory, which has proven highly attractive to venture capital firms focused on consumer-facing technology and e-commerce innovation. As the sneaker culture continues to mature globally, Soda remains at the forefront of the industry, utilizing its technological infrastructure to streamline the resale experience for a growing user base.
How much funding has Soda raised?
Soda has raised a total of $81.4M across 3 funding rounds:
Series A
$3M
Series B
$22M
Series C
$56.4M
Series A (2020): $3M, investors not publicly disclosed
Series B (2021): $22M led by Colopl Next and SoftBank Ventures Asia
Series C (2021): $56.4M supported by Altos Ventures, KREAM, SoftBank Group, and JAFCO
Key Investors in Soda
SoftBank Ventures Asia
The early-stage venture capital arm of the SoftBank Group, specializing in ICT investments including AI, IoT, and smart robotics to facilitate global market growth.
Colopl Next
A venture capital firm focusing on BtoC entertainment sectors and supporting young entrepreneurs with high growth potential across Japan, the U.S., and South Korea.
Altos Ventures
A prominent venture capital firm known for its long-term partnership approach with founders, focusing on high-growth technology and consumer internet companies.
What's next for Soda?
With the infusion of $56.4M, Soda is well-positioned to accelerate its strategic objectives, likely focusing on international market expansion and the enhancement of its proprietary authentication technology. The company's transition from a Series A startup to a Series C enterprise indicates a shift toward long-term sustainability and potential market consolidation. Future growth will likely involve deepening its integration within the broader SoftBank ecosystem and exploring new categories within the luxury resale vertical. As the company scales, maintaining the integrity of its verification process will be paramount to sustaining its competitive advantage against global incumbents. Investors will be monitoring the firm's ability to maintain its growth velocity while optimizing unit economics in an increasingly crowded digital commerce environment.
See full Soda company page
