Orthotics firm Upstep looks to raise NIS 6.5m in Series A round
It has increased sales for the third year in a row by more than 100%.
By JERUSALEM POST STAFFFeet (illustrative)(photo credit: Wikimedia Commons)
Rishon-Lezion-based orthotics start-up Upstep is looking to raise NIS 6.5 million in a Series A round.The start-up was launched in 2017 in the US by siblings Limor Katz, Aviad Raz and Oren Raz, and is based on breakthroughs in the fields of orthopedics, production and customer experience in the custom insole industry.It has increased sales for the third year in a row by more than 100%.Upstep allows customers to order custom insoles online through a highly accurate diagnosing process via input of the characteristics of the customers’ foot, the pain they suffer from and a matching of the insole to their foot and particular needs, whether for daily use or sports.Upstep has grown in the last three months in the US during the coronavirus crisis by more than 160% compared to the same period last year, and has become the No. 1 online medical authority in the US for the treatment of leg pain, all without the customer having to leave home.In 2019, the global insole market was estimated at $ 9.3 billion, and according to a survey by the American Podiatrists Association, about 77% of Americans suffer from foot pain.
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