D2C Sneaker Brand Comet Raises ₹100 Cr for Offline Expansion

Indian direct-to-consumer sneaker brand Comet has raised ₹100 crore ($10.6 million) in a Series B funding round led by global investment firm Verlinvest. Existing investors Elevation Capital and Nexus Venture Partners also participated.

The funding will support Comet's plans to expand its retail footprint, strengthen product development and technology, and invest in research and development. The company is focused on creating proprietary sole molds and the necessary tooling for new footwear models.

Comet currently operates ten company-owned stores across India and aims to double its store count to 20 by the end of the current fiscal year. The brand also intends to expand its footwear portfolio from four to eight distinct models.

Founded in 2023, Comet sells design-led, locally manufactured sneakers primarily through its website and is known for releasing limited-edition products that often sell out quickly. The company reported a net loss of ₹4.4 crore on operating revenue of ₹29.1 crore in its first full fiscal year of operations (FY25).