Sneaker brand Comet raises Rs 100 Cr in Series B led by Verlinvest
Comet will utilise the funding towards retail expansion, strengthening product development, and R&D to develop its own sole models.
Homegrown sneaker brand Comet has secured Rs 100 crore in Series B funding, led by Verlinvest, with Elevation Capital, Nexus Venture Partners, and a group of startup founders joining the round. The capital will be used to expand retail presence, enhance product development, bolster technology capabilities, and invest in R&D for proprietary sole designs and manufacturing tools.
Founded in Bengaluru in 2023 by Utkarsh Gupta and Dishant Daryani, Comet had previously raised Rs 42.3 crore in a Series A round in 2024. The company has seen a ninefold revenue growth since then and now boasts over 500,000 Instagram followers. Retail expansion is a key growth driver, with Comet's stores outperforming the broader athleisure category.
Co-founder Utkarsh Gupta stated that the brand aims to have 10 retail stores by the end of the month and double that number by the end of FY27. Verlinvest Partner Amit Aggarwal highlighted that the investment targets founders at the inflection point of scale, empowering them to transform from strong challengers into category leaders.
Comet currently has four footwear models and plans to double this portfolio to eight by the end of next year.
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