The homegrown sneaker brand will use the capital to accelerate store expansion, strengthen technology and broaden its product portfolio
Bengaluru-based sneaker company Comet has secured Rs 100 crore in a Series B round led by global investment firm Verlinvest, as the footwear brand looks to expand its physical retail network and increase spending on product innovation.
The funding also attracted additional capital from existing backers Elevation Capital and Nexus Venture Partners. Angel investors Abhiraj Singh Bhal, co-founder of Urban Company; Ajit Mohan, Global CBO at Snap Inc; and Anand Ahuja, founder of Bhaane, were among those who participated in the round.
Comet plans to use the proceeds to accelerate the rollout of new stores while upgrading its technology infrastructure and increasing investments in research and development. Product development will also be a key focus as the company looks to broaden its footwear range.
“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.
Established in 2023, Comet currently sells four footwear models. The company plans to expand its portfolio to eight models by the end of 2027, with product development forming a key part of its growth strategy. The company is also stepping up its offline expansion. Comet expects to have 10 stores by September 2026 and plans to double its retail network to 20 stores by the end of FY27.
