New Delhi: Homegrown sneaker brand Comet on Friday said it has raised Rs 100 crore in a Series B funding round led by global investment firm Verlinvest to scale its retail presence and strengthen product development.
The funding round saw participation from existing investors Elevation Capital and Nexus Venture Partners, who doubled down on their investment, alongside angel investors like Abhiraj Singh Bhal (Co-founder, Urban Company), Ajit Mohan (Global CBO, Snap Inc) and Anand Ahuja (Founder, Bhaane), among others.
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The company plans to deploy the fresh capital for accelerating retail expansion, strengthening technology capabilities and product development, and investing in research and development.
"Retail has become a significant growth driver for Comet, with our stores consistently outperforming the broader athleisure category in the markets we operate in. That gives us a strong foundation to continue expanding our physical presence and take the brand to more cities. With this round, we can accelerate that expansion and build a much larger retail footprint across India," Utkarsh Gupta, Co-founder of Comet, said.
Founded in 2023, the Bengaluru-based company currently operates four footwear models and aims to double its portfolio to eight models by the end of next year.
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On the retail front, Comet said it is set to reach 10 stores in September 2026 and targets a total of 20 stores by the end of FY27.
