L.A.-based sneaker subscription platform KYX World, founded last year, has received a second seed funding of $3 million led by SeventySix Capital, valuing the company at $16 million. The company’s backers include Rachel Zoe Ventures and Crush Ventures, as well as several celebrities and professional athletes, including NBA All-Star DeMar DeRozan and Super Bowl Champion Emmanuel Sanders. KYX offers tiered subscription plans that cost between $59 and $299 per month, with customers paying to rent one or more pairs of sneakers and exchanging them for another pair when they lose interest. The company said it will use the funds to develop an app and expand operations to support growth.

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