Comet Raises INR 100 Cr in Series B Round Led by Verlinvest
Sneaker brand Comet raises INR 100 crore Series B led by Verlinvest to fund retail expansion and product R&D.
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Homegrown sneaker brand Comet, founded by Utkarsh Gupta and Dishant Daryani, has raised INR 100 crore in its Series B round, led by global investment firm Verlinvest. Existing investors Elevation Capital and Nexus Venture Partners also participated, alongside angel investors Abhiraj Singh Bhal, Co-founder and CEO of Urban Company, Ajit Mohan, Global Chief Business Officer of Snap Inc., and Anand Ahuja, Founder and CEO of Bhaane.
The funds will go toward accelerating retail expansion, strengthening product development and technology, and continuing R&D, including in-house sole moulds and tooling for new footwear models. Comet has grown revenue 9X since its previous institutional round and is set to reach 10 stores this month, with plans to expand to 20 by the end of FY27.
The company currently has four footwear models, each with its own sole tooling developed through dedicated R&D and plans to double its portfolio to eight models by the end of next year. Founded in 2023, Comet has scaled its consumer base to over 500,000 followers on Instagram since its INR 42.3 crore Series A, led by Elevation Capital in 2024.
“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,” said Utkarsh Gupta, Co-founder, Comet.
“Comet has proven that a homegrown Indian brand can disrupt a space historically dominated by global giants. I am thrilled to back Utkarsh and Dishant, as the focus shifts from finding product-market fit to scaling a movement,” said Amit Aggarwal, Partner, Early Growth, Asia, Verlinvest.
Homegrown sneaker brand Comet, founded by Utkarsh Gupta and Dishant Daryani, has raised INR 100 crore in its Series B round, led by global investment firm Verlinvest. Existing investors Elevation Capital and Nexus Venture Partners also participated, alongside angel investors Abhiraj Singh Bhal, Co-founder and CEO of Urban Company, Ajit Mohan, Global Chief Business Officer of Snap Inc., and Anand Ahuja, Founder and CEO of Bhaane.
The funds will go toward accelerating retail expansion, strengthening product development and technology, and continuing R&D, including in-house sole moulds and tooling for new footwear models. Comet has grown revenue 9X since its previous institutional round and is set to reach 10 stores this month, with plans to expand to 20 by the end of FY27.
The company currently has four footwear models, each with its own sole tooling developed through dedicated R&D and plans to double its portfolio to eight models by the end of next year. Founded in 2023, Comet has scaled its consumer base to over 500,000 followers on Instagram since its INR 42.3 crore Series A, led by Elevation Capital in 2024.
