Wiivv Wearables Announces eSoles Acquisition, $4M in Series A Funding

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wiivv-logoAs soon as bionics company Wiivv Wearables Inc. received important venture capital for its 3D printed insoles and completed a $3.5 million seed round funding, it launched an incredibly successful Kickstarter campaign last year: the company’s customized 3D printed insoles broke a record, as the most funded 3D printed good ever on Kickstarter, achieving an astonishing 470% of the original funding goal. It doesn’t appear that they’re putting the brakes on, either: Wiivv just announced that it has raised $4 million in Series A funding for its 3D printed insoles, and that it also acquired eSoles, a custom footbed supplier, both of which will give Wiivv the opportunity to launch the next phase of its made-to-fit footwear. Wiivv has already shown itself to be a game-changer in the bionics sector, and it looks like it will continue to bring its A game. Like my father always told me: if the shoe fits, wear it.

If you don’t remember what exactly makes Wiivv’s custom insoles so cool, here’s a reminder: the 3D printed footwear uses computer vision and capture technology  to make both its Full Length and its 3/4 Length Custom Fit Insoles. The insoles are completely custom, and are accessible to everyone, all over the world, through a smartphone app; it’s also available on Google Play. In order to promote superior comfort and performance, better body alignment, and reduced foot fatigue, Wiivv insoles are biomechanically enhanced. The company was founded by two Forbes “30 Under 30” honorees in 2014, and is headquartered in Vancouver, with an R&D facility in San Diego.

Biomechanical validation

Biomechanical validation

The insoles offer:

  • durable 3D printed shell (you can pick the shell color as well)
  • shock-absorbing heel cup
  • custom arch support
  • high-performance foam top layer
  • personalized top layer
  • low cost: both the Full Length and 3/4 Length are less than $100

esoles-logoeSoles, the company’s new acquisition, also creates custom insoles, using direct, non-weight-bearing imaging technology. Several Olympians and other world-class athletes use eSoles products, which include ePro, eFit, eSoles footbeds, and 3D TruCapture Kiosk Scanning System. Now, Wiivv will own data from eSoles for over 50,000 foot scans, which is the world’s largest database of 3D foot scans. This allows for further precision in the continuing development of Wiivv’s future footwear products. Consumers will also be able to enjoy “further refinement” to Wiivv’s popular 3D printed insoles: once it’s completely combined with the company’s adaptive manufacturing system, all of this foot scan data will allow Wiivv to customize insoles to fit customers more accurately than ever.

Founders of Wiivv Wearables Company

Wiivv Wearables Founders

CEO and co-founder of Wiivv Wearables Inc., Shamil Hargovan, said, “The highlight of 2016 has been the formation of a world-class team of innovators and partners, who are all passionate about the positive everyday impact we can have in people’s lives with custom-fit footwear becoming available mainstream. We will accelerate our vision of our every shoe made custom to you, and will continue to learn and lead as we bring custom footwear to the masses.”

The acquisition of eSoles, as well as as the Series A funding, will help support the company’s plan to launch new custom-fit footwear over the next several months, and hold its position steady as an industry innovator. The funding is being led by a private tech investor syndicate that’s based out of Seattle. Some of Wiivv’s existing major investors also plan to join the round, which will officially close in Q1 2017. One of these investors is Asimov Ventures, which invests in its areas of expertise: robotics and 3D printing. Wiivv represented the firm’s first investment, and after noting its interest in Wiivv, six other funds joined, including Eclipse VC and Real Ventures, both of whom are joining this round of Series A funding.

Wiivv US Ambassadors

Wiivv US Ambassadors

Since the 2016 Kickstarter campaign, over 10,000 Wiivv Full-Length and 3/4-Length Custom Insoles have been sold and shipped all over the world. Wiivv Wearables, which has grown ten times year-over-year, is dedicated to its community of Wiivv champions with its Corporate Wellness initiatives, Retailer Program, and Ambassador Program; current Wiivv ambassadors include Olympic swimmer Martha McCabe and motivational speaker and former professional Canadian football defensive back Tommy Europe. Stay tuned to 3DPrint.com, as we’ve been known to hold cool giveways, including one for ten pairs of Wiivv insoles! Another thing to stay tuned for is the next Wiivv product launch, which will take place this spring. Discuss in the Wiivv forum at 3DPB.com.

[Image: Wiivv Wearables via Facebook]

[Image: Wiivv Wearables via Facebook]

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