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Comet has raised ₹100 Cr in a Series B funding round led by Verlinvest and with the participation of existing backers Elevation Capital and Nexus Venture Partners as well as angel investors

The startup will use the capital to accelerate its offline retail expansion and invest in product research and development

Comet plans to expand its store footprint from 10 to 20 locations by the end of FY27 while doubling its footwear portfolio to eight distinct models and launching its first female-focused sneaker

D2C sneaker brand Comet has raised ₹100 Cr ($10.6 Mn) in a Series B funding round led by global investment firm Verlinvest. Existing investors Elevation Capital and Nexus Venture Partners also doubled down on the startup.

Additionally, Snapchat CBO Ajit Mohan, Urban Company founder Abhiraj Singh Bhal, and Bhaane cofounder Anand Ahuja also backed Comet as angel investors.

The capital will be used to expand Comet’s retail presence, strengthen product development and tech, as well as foster research and development. The startup is working on developing its own sole moulds as well as the tools required to bring new footwear models to market.

As of now, the startup operates ten company owned company operated (CoCo) stores across India. Comet aims to scale to 20 stores across India by the end of the ongoing fiscal. It also intends to double its footwear portfolio from four to eight distinct models.

Founded in 2023 by Gupta and Dishant Daryani, Comet sells design-led, locally manufactured sneakers primarily through its own website. The startup is particularly noteworthy for releasing limited edition products every 1-2 months that often sell out within minutes.

Prior to this round, it had raised around $5 Mn from Elevation Capital and Nexus in July 2024.

On the financial front, Comet made a net loss of ₹4.4 Cr in FY25, its first full financial year of operations. Meanwhile, it reported operating revenue of ₹29.1 Cr. The startup is yet to report its FY26 numbers.