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DateInvestorsAmountRound
-investor investor

€0.0

round
investor

€0.0

round
investor

€0.0

Valuation: €0.0

17.1x EV/Revenue

-40.1x EV/EBITDA

round
N/A

€0.0

Valuation: €0.0

14.8x EV/Revenue

-9.2x EV/EBITDA

round
investor

€0.0

round
investor

€0.0

Valuation: €0.0

22.3x EV/Revenue

-13.8x EV/EBITDA

round
investor investor

€0.0

round

€640k

Valuation: €6.4m

21.6x EV/Revenue

-29.8x EV/EBITDA

Series A
Total Funding000k

Financials

Estimates*

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Revenues, earnings & profits over time
EUR201820192020202120222023
Revenues000000000000000000000000
% growth--84 %117 %105 %-
EBITDA000000000000000000000000
% EBITDA margin-(43 %)(161 %)(91 %)(72 %)-
Profit000000000000000000000000
% profit margin-1 %(104 %)(94 %)(77 %)-
EV000000000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x00.0x
R&D budget000000000000000000000000

Source: Company filings or news article, Dealroom estimates

Notes (0)
More about Earthbound
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Earthbound, operating under the Croatian-registered company Miret d.o.o., is a footwear manufacturer focused on producing ecologically sustainable sneakers. The business was born from the founders' direct experience within the traditional footwear industry. Brothers Hrvoje and Domagoj Boljar inherited a family shoemaking business from their father, Josip Boljar, and initially produced high-end footwear for other European brands. This insider perspective revealed the industry's significant negative environmental impact, primarily from the widespread use of petroleum derivatives and chemically-treated leather, motivating them to establish a more sustainable alternative.

The founders' backgrounds are complementary; Hrvoje Boljar is an industrial designer who leads product design and sustainable development, while Domagoj Boljar is an economist who manages the business operations. After a development period of approximately six years, the company launched its first products. In October 2023, the brand name transitioned from MIRET to Earthbound to better reflect its core ecological mission. The company operates on a direct-to-consumer business model, selling its products exclusively through its own webshop to maintain lower retail prices and direct communication with its customer base.

Earthbound’s primary product is a line of sneakers constructed from 97% natural, bio-based materials. The company utilizes a diverse range of ten different plants and wool, including hemp, kenaf, cork, eucalyptus, and natural rubber. The wool exterior is naturally water-repellent, while the hemp lining offers breathability and odor resistance. The ergonomic footbed is crafted from cork, and the outsole from natural rubber latex. This material composition results in a CO2 footprint of 4.88 kg per pair, significantly lower than the industry average of 14 kg. The remaining 3% of the sneaker consists of synthetic glue and thread, used to ensure durability, though the company is actively researching bio-based alternatives. Earthbound's sneakers are the first in the world to receive the STANDARD 100 by OEKO-TEX label for the entire product, certifying they are free of substances harmful to human health. The company is also a certified B Corporation.

The company has secured funding through various means, including grants, angel investments, and equity crowdfunding campaigns on platforms like Kickstarter and Funderbeam, raising over $1.36 million in total. Key investors include Fil Rouge Capital and the Austrian business angel association, Danube Angels.

Keywords: sustainable footwear, ecological sneakers, bio-based materials, direct-to-consumer, eco-friendly fashion, B Corp, OEKO-TEX certified, natural fiber shoes, Croatian startup, Hrvoje Boljar, Domagoj Boljar, ethical manufacturing, hemp shoes, wool sneakers, natural rubber soles, cork footbed, low CO2 footwear, plastic-free products, sustainable design, climate tech

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