Sneaker brand Comet raises ₹100 crore in Series B led by Verlinvest
CE DESK 
Homegrown sneaker brand Comet has raised ₹100 crore in a Series B funding round. The deal was led by global investment firm Verlinvest. The announcement came on Friday, September 4, 2026. Existing investors Elevation Capital and Nexus Venture Partners also took part in the round. They increased their stake in the company. A group of well-known angel investors joined as well. These include Urban Company co-founder Abhiraj Singh Bhal, Snap Inc’s global chief business officer Ajit Mohan, and Bhaane founder Anand Ahuja.
Comet was founded in 2023 by Utkarsh Gupta and Dishant Daryani. It is based in Bengaluru. The brand sells sneakers and slides mainly to young Indian consumers. It positions itself between expensive global brands and basic affordable shoes. Its price point is around ₹4,000 to ₹4,500 per pair. The company focuses on design, limited drops and a strong visual identity. This has helped it build a loyal customer base in a short time.
This is Comet’s second major fundraise in about two years. In July 2024, the startup raised ₹42.3 crore in a Series A round. That round was led by Elevation Capital. The latest Series B values Comet at around ₹535 crore. This is more than three times its post-money valuation after Series A, which was about ₹167 crore. The sharp jump in valuation shows strong investor confidence in the brand’s growth path.
Verlinvest invested about ₹61.73 crore in this round. Elevation Capital and Nexus Venture Partners each contributed around ₹17.90 crore. The round also saw smaller cheques from angel investors. Abhiraj Singh Bhal and Bhaane Retail invested ₹50 lakh each. Ajit Mohan put in ₹20 lakh. These names bring not just money but also experience in building consumer brands and digital businesses.
Comet plans to use the fresh capital for retail expansion, product development and technology. The brand wants to open more physical stores across India. It aims to reach 10 stores this month and 20 stores by the end of FY27. Part of the money will go into research and development. This includes building its own sole moulds and tooling for new footwear models. The company also wants to double its footwear portfolio to eight models by the end of next year.
The Indian sneaker market has become very competitive in recent years. Global brands dominate the premium segment. Many new Indian labels are trying to carve out a space in the mid-price band. Comet’s strategy is to offer premium-looking designs at accessible prices. It also relies on limited releases and community building. With this new funding, the brand is betting it can scale fast while keeping its identity intact.
