Allbirds Fundraises for Stores

Allbirds (San Francisco) has plans to expand its bricks-and-mortar footprint. Currently the shoe company operates a single retail location, which is located in the same building as its San Francisco headquarters.

The company plans to open its second store this month in an undisclosed U.S. city and intends to open others, as well.

"Retail is a big part of our future," the company’s Co-founder Tim Brown said. "We think there's a really great opportunity to rethink retail and rethink how shoes are tried on, and just think through every step of that process."

To that end, the company announced it has raised $17.5 million in funding, which brings the total raised by the company to $27.5 million since its founding in 2015.

The funding will also help the company expand its shipping to locations outside the U.S. and New Zealand, as well as research new footwear materials, reports Business Insider.