D2C sneaker brand Comet raises Rs 100 Cr in Series B led by Verlinvest
2 min read
Indian sneaker brand Comet has secured approximately Rs 100 crore in a Series B funding round led by Belgium-based investment firm Verlinvest. Existing backers Elevation Capital and Nexus Venture Partners also participated, alongside angel investors such as Urban Company cofounder Abhiraj Singh Bhal, Snap’s global chief business officer Ajit Mohan, and Bhaane founder Anand Ahuja.
Key Takeaways
- D2C sneaker brand Comet raised about Rs 100 crore in a Series B round led by Belgium’s Verlinvest.
- Existing backers Elevation Capital and Nexus Venture Partners joined, along with angel investors including Urban Company cofounder Abhiraj Singh Bhal.
- Founded in 2023, the Bengaluru-based company plans to double its four footwear models to eight by next year.
- Comet’s FY25 revenue surged nearly fourfold to Rs 29 crore, though losses widened to Rs 4.39 crore.
The fresh capital will fuel retail expansion, product development, and technology upgrades, including investment in research and development. Comet is also developing proprietary sole moulds and tooling for upcoming footwear models.
Founded in 2023 by Utkarsh Gupta and Dishant Daryani, the Bengaluru-based company currently offers four footwear models and aims to double its portfolio to eight by the end of next year. A women-specific model, backed by dedicated sole tooling, is also in the pipeline.
Since its last institutional raise, Comet has grown its revenue ninefold and is on track to reach 10 stores this month, with a target of 20 stores by the end of FY27. In FY25, revenue surged nearly fourfold to Rs 29 crore, though losses widened to Rs 4.39 crore. FY26 financials have not yet been filed.
Comet joins a growing cohort of homegrown sneaker brands, including Gully Labs, Neeman’s, ARCs, and Doc Sneakers.
