Vegan shoe brand Rothy’s recently raised $35 million in venture capital from investment firm Goldman Sachs Investment Partners. The company creates its vegan shoes from waste products that are woven using 3D technology before being finished by hand. “Rothy’s has achieved the rare combination of attributes we look for in a brand: a production process and product offering with differentiated IP, a passionately supportive and loyal customer base and rapid growth achieved through viral means,” Ian Friedman, co-head of the Venture Capital and Growth Equity team at Goldman Sachs, said. “We believe that Rothy’s has the opportunity to eliminate consumers’ historical need to compromise on style, comfort, or sustainability.” In 2018, Rothy’s generated $140 million in revenue and has repurposed 20 million plastic bottles since it was founded in 2016.
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