Using materials science to create sustainable athletic footwear, that offers high performance and low environmental impact, Hylo has raised around €2.9 million. The round was led by Eka Ventures, with participation from Redrice Ventures and angel investors including Patrick Bamford, Leeds United and England footballer.
On a mission to create a community of athletes that are conscious of the planet, the UK-based company strives to use innovation as a form of activism. The startup is doing so by developing running shoes that deliver high performance for athletes and low impact on the planet.
Launched in 2020, the brand’s launch shoe is vegan, uses renewable materials is recyclable and has a 52% lower carbon footprint compared with the average running shoe. Hylo aims to bring about greater connections between sport and sustainability, creating opportunities for athletes to come together to learn more about this topic, and promoting a new future of running that is more environmentally positive.
Alongside developing an innovative eco-conscious product, the startup is building a community of Athletes for Planet, using their platforms to influence positive change. Already famous footballing names have joined the movement.
Patrick Bamford, Leeds United and England footballer, commented: “Hylo’s focus on blending performance and impact is what drew me to the company and mission. Products that perform that don’t compromise the planet have been long overdue in the sportswear space. I am excited to be part of the journey and shape what future products the brand brings to market.”
The fresh funds will be used for product and brand development, as well as sales and marketing expansion.
Michael Doughty, former professional footballer and Co-Founder and Managing Director commented: “John, Jacob and I founded Hylo to provide the Athlete with products that not only perform but that drastically improve the impact that sportswear is having on our world. With the continued support of our initial investors and by welcoming Eka Ventures, Redrice and Mahr Projects into our Series A round, we have a team and the resources to continue on that journey and change the future of Sportswear.”
Jon Coker, Managing Partner of Eka Ventures: “We back founders building positive system change in large and impactful industries. The sportswear industry is exactly that, it not only has a huge environmental footprint, but it also has a huge influence on the athletes it elevates. When we met Michael, Jacob and John it was clear their vision for hylo was genuine system change. Everything they do is focused on the unique combination for performance and sustainability, whether it be the advanced materials they use, their sales models or the way they work with athletes. We are thrilled that they chose to partner with us as they deliver on their vision.”