Mainstreet Marketplace operating sneaker reselling platform raises $2M from angels

Mumbai-based sneaker reselling platform Mainstreet Marketplace has raised $2 million in a seed funding round led by investors, including Zomato CEO Deepinder Goyal's First Lap LLP, Zerodha co-founder Nikhil Kamath, and Abhijeet Pai's venture fund Gruhas Proptech.

Other notable participants in the round were Sujeet Kumar, co-founder of Udaan, Amarjit Singh Batra, Managing Director of Spotify India, as well as several angel investors and social media influencers.

With this funding, Mainstreet Marketplace plans said it will focus on strengthening its business operations and provide an even better experience for its customers.

Prior to this funding round, The startup had raised $125,000 (approximately Rs 1 crore) as part of its pre-seed funding round from angel investors, including Kunal Shah, the founder of Cred.

Started as a YouTube channel in 2017 by Vedant Lamba, The startup offers a range of popular brands such as Nike, Adidas, Yeezy, Supreme, and Drewhouse.

Mainstreet Marketplace claims to have a exclusive customer base that includes Bollywood celebrities like Ranbir Kapoor, Karan Johar, and Ranveer Singh.

The company generates revenue by earning commissions from the resale of coveted sneakers. Certain products, particularly limited edition shoes, tend to increase in value over time. In this market segment, Mainstreet Marketplace faces competition from other resellers such as VegNonVeg, Superkicks, and various individuals.

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