SoftBank Ventures Asia invests in Japan's SODA

The round has raised USD 56.4 million thus far and was also participated in by SBVA's portfolio company, KREAM, a Korean sneaker reselling platform, as well as venture capitalist firms, Altos Ventures and JAFCO.

With this funding round, SODA has acquired Monokabu – one of Japan's operator in the sneaker market – giving it 80% of market share in the local sneaker resale industry. This represents SBVA’s second investment in SODA following SBVA’s participation in SODA’s Series B round in January 2021, in which SBVA made an initial investment of USD 17 million. To date, SODA’s current total funding stands at USD 81.4 million.