The recent financing round closed by Tropicfeel highlights the great success experienced by this young Barcelona-based firm dedicated to designing and manufacturing waterproof shoes for travellers. In this post we analyse the case of this Spanish startup from a corporate finance point of view.
Tropicfeel was founded in 2017, after a trip between four friends where they saw the need for specific footwear for travellers. In this way, they set out to to make a shoe that could provide the benefits of all the slippers, flip-flops and boots that people usually travel in..
In this way, after visiting different shoe factories to understand the manufacturing process and starting their own production in Vietnam, they managed to sell a run of 1,500 pairs. In this way, they were able to launch waterproof, comfortable shoes for walking in the mountains or on asphalt, and aesthetically pleasing. In short, a versatile, all-in-one shoe for travellers.
After a first round of crowfunding on Kickstarter where they raised a total of €2.1M in just 50 days, despite having set a target of €12,000, they recently launched a second round of funding. This time through Indiegogo, they have managed to raise more than €2,000,000. 3.4M€ to continue its expansion and start a new production to offer its footwear in its e-commerce by the end of the year.
BauBax is a company that seeks to to meet the needs of tourists with specialised clothing. In this way, it offers a jacket that allows through its different pockets to store everything necessary for travel, as well as to carry the different gadgets of the users. In addition, they have recently launched trousers that, thanks to the materials used, provide comfort and elegance while being suitable for both summer and winter.
In the last year they have launched a crowfunding campaign where they have managed to raise a total of more than 1M€ to finance the new products. Previously they managed to raise around €8m also through crowfunding.
Baboon to the moon is a U.S. company engaged in the design and manufacture of modern, waterproof, tear-proof and heavy-duty backpacks and suitcases. Its business model is aimed at adventurous travellers and all types of travel.
They have recently closed a financing round of around 2.5M€ in order to boost its business and continue its growth.