Comet Raises ₹100 Crore in Funding to Fuel Retail Expansion and Footwear Innovation
| Key Details | Information |
|---|---|
| Company | Comet |
| Founder | Utkarsh Gupta And Dishant Daryani |
| Headquarters | Bengaluru, Karnataka, India |
| Funding Amount | ₹100 Crore |
| Funding Purpose | Retail Expansion & Footwear Innovation |
| Industry | Footwear & Consumer Brand |
| Expansion Focus | Retail Stores & Distribution Network |
| Innovation Focus | New Footwear Products, Designs & Technology |
| Market | India |
Bengaluru-based sneaker brand Comet has raised ₹100 crore in a Series B funding round. The round was led by the global investment firm Verlinvest, with follow-on investments from existing backers Elevation Capital and Nexus Venture Partners. Angel investors—including Urban Company co-founder Abhiraj Singh Bhal, Snap Inc. Global CBO Ajit Mohan, and Bhaane founder Anand Ahuja—also participated.
Comet was founded in Bengaluru in 2023 by Utkarsh Gupta and Dishant Daryani, with a business model centered on design-led, locally manufactured sneakers. The company previously raised ₹42.3 crore in a Series A round in 2024 and has since experienced significant growth.
The proceeds from this latest funding round will be used to open new stores, with a target of establishing 20 outlets by 2027. India’s sneaker market is vast and home to several major players; Comet is actively carving out its own space within this landscape.