What is Soda?
Soda operates as a digital marketplace facilitating the buying and selling of authentic sneakers. The platform aims to provide a trusted environment for collectors and enthusiasts to trade high-demand footwear, addressing a significant market need for reliable reselling services. By leveraging technology, Soda seeks to streamline the authentication and transaction process, positioning itself as a key player in the global sneaker economy.
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 JAFCO, SoftBank Group, KREAM, and Altos Ventures
Key Investors in Soda
JAFCO
JAFCO is a prominent investment firm that has backed numerous technology and growth-stage companies, likely contributing strategic guidance and capital to Soda's expansion.
SoftBank Group
SoftBank Group is a global technology investment giant, known for its significant backing of high-growth companies across various sectors, indicating Soda's strong potential in the digital marketplace.
Colopl Next
Colopl Next is a venture capital firm specializing in early-stage investments, particularly in Japan's BtoC entertainment and technology sectors, suggesting a focus on Soda's consumer-facing platform and growth trajectory.
What's next for Soda?
With significant capital infusion from its recent funding rounds, Soda is poised for accelerated growth. The company is expected to focus on enhancing its platform capabilities, expanding its market reach within Japan and potentially internationally, and strengthening its brand presence. Strategic investments like the recent one suggest a focus on scaling operations, optimizing logistics, and potentially exploring new product categories or services within the broader fashion and collectibles market. This backing will likely enable Soda to solidify its position against competitors and capture a larger share of the burgeoning sneaker resale market.
See full Soda company page
