Wiivv Wearables Inc. has acquired eSoles, widely known for its modular customizable footbeds. The acquisition following the close of CDN $5 million Series A led by a private Seattle-based tech investor syndicate.
Wiivv Wearables’ existing venture investors Eclipse VC, Evonik Venture Capital, Real Ventures, and Asimov Ventures, are expected to join the Series A round which is set to officially close in Q1 2017.
Through the acquisition of eSoles, Wiivv will have possession of data for over 50,000 3D foot scans, allowing for enhanced precision in the development of the company’s future footwear products.
With the funding in place and eSoles acquisition, Wiivv Wearables is planning for new product launches in custom-fit footwear over the coming months and further establish their position as industry innovators.
Founded in 2014 by Louis-Victor Jadavji and CEO Shamil Hargovan, Wiivv Wearables raised US $3.5 million in seed funding from Eclipse VC (formerly Formation 8 Hardware Fund), Real Ventures, Asimov Ventures and Evonik Industries in December 2015.
photo credit: Wiivv Wearables