KYX World, the revolutionary new sneaker company, announced its latest fundraising round led by SeventySix Capital, with further investment coming from other key strategic investors including NBA All-Star DeMar DeRozan and Super Bowl Champion Emmanuel Sanders.
The industry-first try-before-you-buy and sneaker rental service, KYX is changing the exclusive nature of the footwear industry. KYX offers a wide range of authentic, limited-edition sneakers that are universally desired or ‘hyped.’ With a first-of-a-kind subscription model, KYX democratizes access to rare sneakers with a new, more thoughtful way to consume. KYX subscribers receive fresh sneakers delivered right to their door, wear them freely and then choose to keep, buy, or swap them out for another pair.
“KYX is the place where people from all walks of life are coming for their favorite sneakers,” said CEO and co-founder Brian Mupo. “We are inclusive to all customers in a way the footwear industry does not currently reflect. Our goal is to change the way people interact with shoes, giving them more options with less commitment.”
The investment round is led by industry-leading sports tech venture capital company SeventySix Capital, with additional support from Rachel Zoe Ventures and Crush Ventures. KYX has also brought on NBA All-Star DeMar DeRozan, Super Bowl Champion/NFL Wide Receiver Emmanuel Sanders, Dash Radio founder DJ Skee along with BDG Founder/CEO Bryan Goldberg, Casper Co-Founder/CSO Neil Parikh, and NTWRK President Moksha Fitzgibbons.
“KYX seamlessly blends the rising trend of sneaker culture with access, technology, and the circular economy,” Chad Stender, Partner of SeventySix Capital and Board Member of KYX explained. “KYX is well positioned to make a huge impact in the $25 billion sneaker industry.”
KYX offers 3 levels of access on its platform, from $59 to $299 per month. Offering over 300 styles ranging in price from $100 – $1,500 on the resale market, an inclusive array of both men’s and women’s sizing, and sneakers from Nike, New Balance, Yeezys and more—KYX is the new sneaker closet. KYX employs several of the foremost sneaker authenticators, sneaker cleaners, and sneakerhead buyers/sellers in the world to ensure all sneakers show up to your door in ‘near new’ appearance and condition after undergoing extensive cleaning, sanitization and sterilization utilizing Reshoevn8r products with their proprietary 10-step cleaning process.
