SODA operates SNKRDUNK, one of Japan’s largest sneaker reselling platforms with about 2.5 million monthly users. Launched in 2018 and based in Tokyo, the company focuses on sneaker C2C resale and operations including authentication, inventory management and logistics. In May 2021 SODA reported record sales, growing 900% year-over-year. Its post-money valuation after the Series C is about 24 billion JPY (≈$218 million), and the company has expanded via acquisition of rival Monokabu. SODA plans to use part of the Series C proceeds to expand into other Asian markets, starting with Indonesia and the Philippines next year. The company is collaborating with partners like KREAM to scale operations and share know‑how across the region. SODA operates SNKRDUNK, a Tokyo-based C2C sneaker resale marketplace that also runs a sneaker news site and online community. Launched in 2018, SNKRDUNK uses authentication holds and partners with FAKE BUSTERS to verify sneakers before shipment. The platform has 2.5 million monthly users and recorded a 3,000% year-over-year increase in monthly gross merchandise value in December 2020. SODA raised a $22 million Series B led by SoftBank Ventures Asia and has $25 million in total funding including a $3 million Series A from last year. The company plans to use the new capital to accelerate expansion into other Asian countries, add more product categories, and expand its authentication facilities. It also intends to work with SoftBank Ventures Asia portfolio companies to apply AI for automating logistics, payments, customer service, and counterfeit inspection.

Total raised

$78M

Funding rounds

2

Latest round

Series C

Latest activity

Jul 2021