Yikodeen’s Footwear Revolution Gets Multi-Million Naira Boost from Aruwa Capital

Yikodeen, a leading manufacturer of safety footwear, has secured a multi-million-dollar investment from Aruwa Capital Management to significantly expand its production capacity. This strategic partnership represents a major leap forward in Yikodeen’s mission to build world-class production capabilities and scale its footprint across the region.

The investment from Aruwa Capital’s sophomore fund, Aruwa Capital Fund II, will fund Yikodeen’s factory recommissioning and capacity expansion. The firm was the sole investor in this round, underscoring its confidence in Yikodeen’s manufacturing excellence and growth potential. This capital injection will significantly accelerate the company’s growth trajectory, which has already seen impressive 10x revenue growth with gross profit margins exceeding 50%, all while maintaining zero debt.

“This partnership with Aruwa Capital represents more than just financial investment; it’s a vote of confidence in the company’s manufacturing excellence,” said Shamsideen Atunde, Founder and CEO of Yikodeen. “With this support, we’re positioned to transform our production capabilities, increase our output tenfold, expand our product lines beyond safety footwear, and generate significant economic value through job creation and import substitution.”

Adesuwa Okunbo Rhodes, Founder and Managing Partner of Aruwa Capital Management, emphasized the significance of the strategic investment: “Yikodeen exemplifies the type of business capable of driving meaningful economic transformation in Nigeria. Their manufacturing excellence, impressive certifications from standards organizations, and remarkable growth trajectory make them an ideal investment partner. We’re excited to work with Yikodeen to redefine Africa’s footwear landscape while supporting Nigeria’s shift from import dependency to manufacturing self-sufficiency.”