Unicorn shoe startup Allbirds debuts a high-top sneaker

Allbirds, the shoe startup that entered the unicorn club last month following a $50 million funding round, has unveiled its latest feet holders. Dubbed the Tree Topper, the high-top sneaker marks Allbirds' fifth shoe style. The Tree Topper, which retails for $115, features merino wool knit, eucalyptus tree fiber fabric and sugarcane-based foam.

"The Tree Topper is a true representation of our approach to design and sustainability," Allbirds Head of Design Jamie McLellan said in a press release. "With just the right amount of nothing and comfort as a non-negotiable, the Tree Topper is a playful canvas for showcasing our three hero materials."

Allbirds, founded by Joey Zwillinger and Tim Brown, first launched in 2015. Since then, the shoe startup has raised $75 million in funding from investors like T. Rowe Price, Tiger Global, Fidelity Investments, Leonardo DiCaprio and others. Allbirds is worth a reported $1.4 billion.

The startup began as a direct-to-consumer online retailer but has since expanded into the traditional retail space with the launch of brick-and-mortar locations in San Francisco and New York.