HomeBusinessKang Leads IDA Seed Round for Women’s Sports Footwear

Kang Leads IDA Seed Round for Women’s Sports Footwear

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IDA Sports launched in 2018 with the goal of creating shoes exclusively for adult football players.
IDA Sports

Michele Kang’s Kynisca Sports International Ltd. led a$ 2 million plant financing round for women’s shoes brand IDA Sports. Despite their age or level of skill, the new funding will give a boost to IDA’s research and development as well as the production of female soccer athletes ‘ feet.
Three other businesses participated in the plant round: Elysian Park Ventures, the investment arm of the Los Angeles Dodgers, Tipt Ventures, a children’s sports venture capital firm, and Firebird Ventures, a London-based VC firm focused on female capital for women and children.
According to Kang, “most of the sports scientific research is focused solely on female players, with the exception of training regimens, functionality recovery plans, and shoe and clothing designs based on the body type of the female athlete.” ” Children’s activities should never be an afterthought—they should be recognized as a standalone, economically sustainable product, and it’s interesting to partner with an innovative company that shares the same attitude”.

One of the main reasons Kang launched Kynisca over the summer is that she has much complained about the lack of funding for female athletes in sports science. The firm is the first multi-team organization dedicated solely to women’s sports, with Kang’s three soccer clubs ( NWSL’s Washington Spirit, Olympique Lyonnais Féminin and London City Lionesses ) and the Kynisca Innovation Hub.
Laura Youngson, the founder and CEO of IDA, applauded Kynisca for addressing the lack of funding for functionality products specifically for women. She said,” IDA has always had the unwavering desire to invest in female athletes in order to give them the products they deserve as well as those that can help them improve their efficiency.”
Adult athletes are four to eight times more likely to get ACL injury, according to IDA. The company creates products with the goal of reducing the risk of serious lower hip injuries, particularly those involving knee and ankle injuries, as well as reducing preventable problems.
The IDA reported a triple-cracked revenue from 2022 to 2023 and anticipates the similar trend in 2024.
The design issues are n’t just limited to soccer, as women’s basketball has contended with the same problem for decades. Sneaker companies have n’t yet become widely used, but only recently have they created products specifically for female basketball players. While some of the WNBA’s best participants, including Minnesota Lynx watch Courtney Williams and Indiana Fever core Aliyah Boston, have clothing created specifically for both male and female participants, Breanna Stewart and Sabrina Ionescu are teammates of the WNBA champion New York Liberty.

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