The Israeli start-up Upstep was established by siblings. The company specializes in designing, manufacturing, and marketing online custom-orthotics . It was established in 2017, and after two years of research and development, it became, in five years of operating in the American market, the leading online authority on foot pains.
Limor Katz, Upstep’s CEO, notes: “Due to the high demand, the company was about to start a fund-raising process to obtain $5 million to expand operations – by creating the world’s most advanced manufacturing setup, implementing unique self-developed technologies, and expanding the marketing efforts in the US market.
Following the “Iron Swords” war, investments by Israeli investors have slowed down. The company proposes that to bolster all Israeli businesses, investors from the United States and Canada would undertake investing in Israeli companies – not as donations but on a financial basis and as a business partnership.
This would enable Israeli companies to continue their strategic plans to increase their operations and profitability and, indeed – to win together!
American Jewry, and Israel-supporting investors in general, have a great privilege to help and support us and other companies that need finance to continue to grow.
Upstep developed unique insole design technologies and implemented one-of-a-kind manufacturing technologies. These are data-based technologies and marketing strategies.
The company’s revenues have grown in the first ten months of 2023 by 20%, and the product’s profitability increased by 111% compared to the same period last year.
The company expects to finish 2023 with a 30-35% growth and an increase of more than 100% in product profitability. The company has thus far sold more than 170,000 pairs of custom orthotics in the United States.
Upstep invested in the last three months around NIS 2.5 million in an innovative technology that is the first of its kind worldwide. The technology is based on machine learning, streamlining and shortening the duration of designing customized insoles by 70%. Upstep is currently completing innovative technological developments that would give the company a significant competitive advantage and position it as a trailblazing, tech-leading company in the industry!
Limor Katz further adds: “The massive help by the US business community to Israel during this just war of the State of Israel, in addition to donations made to the IDF, the security forces, and the residential communities hurt by Hamas-ISIS, is by investments in Israeli businesses to keep Israeli economy in operation, which is crucial and essential to Israel’s resilience.”
This article was written in cooperation with Upstep