Homegrown sneaker brand Comet has raised ₹100 crore in its Series B round led by Verlinvest. The funding round also saw participation from existing investors Elevation Capital and Nexus Venture Partners, alongside participation from angel investors Abhiraj Singh Bhal, Ajit Mohan, and Anand Ahuja.
The company plans to deploy the funds towards accelerating retail expansion, strengthening product development and technology capabilities, and continuing to invest in research and development, including the development of its own sole moulds and the tooling required to bring new footwear models to market.
Business Expansion
The company is set to hit the 10-store mark this month, with plans to expand to 20 stores by the end of FY27, as it builds a larger physical and omnichannel presence across India.
Utkarsh Gupta, Co-founder, Comet, said, “Retail has become a significant growth driver for Comet, with our stores consistently outperforming the broader athleisure category in the markets we operate in. With this round, we can accelerate that expansion and build a much larger retail footprint across India.
Previously, the company has raised raised ₹42.3 crore in its Series A round led by Elevation Capital, in July 2024. Comet is among the list of startups that is racing to build brand made in India with a blend of global trend and vibrant design. The sector has players like Neemens, Solethreads, Banjaaran Studio, and Gully Labs.