KYX World, a sneaker start-up based in Los Angeles, 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.
KYX World employs a monthly subscription model that delivers sneakers to subscribers’ homes, let’s them try them on, and then decide to keep, buy, or swap them out for another pair. KYX offers three levels of access on its platform, from $59 to $299 per month. Over 300 styles are availabe ranging in price from $100 – $1,500 on the resale market, including styles from Nike, New Balance and Yeezys.
“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 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.”
