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Wiivv counts Olympian Martha McCabe as a user. | Image screenshot: Wiivv

Wiivv raises $4 million and acquires competitor eSoles

Wiivv, a custom insole maker, based in Vancouver, BC, Canada, has raised $4 million in Series A funding. Back in December 2015, Wiivv raised $3.5 million in a seed round, bringing the company’s total funding to date to $11.9 million.

The round was led by an undisclosed tech investor syndicate based in Seattle, Washington with participation from existing investors Eclipse VC, Evonik Venture Capital, Real Ventures and Asimov Ventures.

Along with the cash infusion, the company has also acquired eSoles, its former Austin-based competitor, that is most known for its modular customizable footbeds. 

This deal will give Wiivv access to more than 50,000 3D foot scans, which will help the team better develop new footwear products, in addition to giving wearers a more precise fit.

Shamil Hargovan co-founded Wiiv in July 2014 with Louis-Victor Jadavji. Hargovan and Jadavji have built a bionics company that they use to create custom, 3D-printed footwear, orthopedics and gear using their body-perfect ™ capture technology.

The company also has a R&D manufacturing facility in San Diego, California.

In 2016, Wiivv launched on Kickstarter, becoming the website’s most funded 3D-printed project ever. This new round of investment will help the company release a new product this spring.

“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,” Hargovan said in statement.

By Erin Murphy

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